Old gas is a potential source of problems from sitting that long: solids and rust. For a bike that old, I'd start there -- pull the petcock off (and replace, along w/ the built-in filter, if your model has one), clean the interior of the tank thoroughly. Then pull and clean the carb bowls, which will develop varnish & goo after that long.
If you have good, clean fuel flow, working carbs and a functional electric system, I wouldn't rush to open a free-turning engine unless it appears necessary.