Hey, thanks for the welcomes. The previous owner had the bike on the road about 4 months before I bought it. However, when i bought it the batter was dead and he couldn't get it roll started. The engine would turn over a few times but never fired. Where I was getting it for so cheap I wasn't too worried that it didn't start. I found the wires were in really bad shape so I went all out and swapped them for Dyna coils and wires with NGK plugs. Thanks to this forum I knew which were the right coils and plugs for my bike.
The other major change I did was to the carbs. The PO helped me trailer the bike. When I towed it the 3 hours back to my place I found a puddle of gas under the bike. After looking into it (again, with a lot of assistance from searching the forums) I found that the throttle shaft on the carbs was bent and the throttle wouldn't shut on it's own. Apparently the previous owner had opened the throttle when he pushed it onto the trailer and it stayed that way for the entire trip back.
A lot of what I found in the forums was about issues with carbs on these old bikes. I decided to bypass the issues entirely and picked up a set of remanufactured carbs from carburetorkeith on ebay. Beyond that I'm only planning minor repairs and maintenance for the bike. I've got new cables on the way to replace what appear to be the originals. After that I'll bring it to the pros and let them tell me what else it needs. It does need some cosmetics but that will have to wait till the mechanics are sound.
So, does it run? Well...I'm hopeful. I'll know when the clutch cable arrives since I'm not 100% positive it got left in neutral.
