"Should" it, no. But they all do until cleaned up and refurbished. The sprocket/side cover is open from the rear, and the chain slings goop which catches debris, which builds up over time, which... Well, you get the picture.
If you remove the front sprocket, be sure to re-install it with Blue LocTite. That whole area deserves to be cleaned back to super clean. A new chain, and perhaps sprockets F/R might be well worth your purchase. Also, double check the case at the 9:00 edge of the chain. This area often has some damage to it from a broken chains or poorly adjusted chains.f damaged, it can be repaired.
The more you remove these covers, the more cleaning you are in for. But hey, after 40 years, what vehicle doesn't need some cleaning? At least there's no fenders, grills and hoods to crawl around to get to the dirty areas. Wide open access, Baby!