Got the exhaust mounted properly this weekend. Used a rear drum adjuster bracket from an '03 Taurus. Worked out great, very solid. Took a little grinding, bending, and drilling, but it beats trying to fabricate without a welder.
Also, I cleaned up the rust inside the gas tank by pouring in vinegar and letting it set for 2 weeks. There was still some tar left so I had to sandblast the inside. It's not perfect, but it is SO much better than it was.
As requested, here is a link to a video of my dad starting the bike with the new exhaust (pre-bracket install). Sounds great, revs FAST.
I had all sorts of trouble getting it to run right. Turned out to be a pitted point. Pulled one off a 550 points plate I had laying around. Ran perfect once the dwell and timing was set. Also, I replaced all those soft screws that hold the points and condensers with stainless allen bolts. If anyone is curious about swapping, you will need 7 M4X10 screws (good luck finding them shorter), and 3 M5X10 screws. The only one I had to shorten was the one for the felt wiper.