I took the front brake caliper apart. There was still a good amount of corrosion below the o-ring. I cleaned up really well and put everything back together and now the front brake works flawlessly. No dragging when not engaged, no squeaking, good bite and very firm lever.
I also went over the 4 exhaust pipes with a brass brush, steel wool and Evaporust. I have to say they look so much better than I ever thought they would. I'll post up some more pictures soon. There is one small hole rusted through the bottom of one of the mufflers. Does this matter? I also find quite a lot of discoloration and carbon building on pipe 2 where is connects to the engine. Seems like one of the cylinders was running rich for a long time. I'll reinstall the exhaust later this week.
Finally, I tightened up the bolts on the oil pan. Several were able to take another quarter turn pretty easily. I'll see if that stops my oil leak. In the meantime, I have ordered a NOS gasket. The aftermarket 4into1 gasket didn't fit great, and if it still leaks, I'll be ready to replace it next time.
Next up is syncing the carbs, but I feel like I need some kind of solution on the airbox boot fitting on carb 3 and 4. I went back and looked at the pictures from when it came out of storage (attached), and you can tell that the boots were not fitting on carb 4 when i got it out of storage. I wonder if something was leaning on it and deformed the shape of the airbox or boot over time? I'm really at a loss on what to do. I never removed the boots from the airbox, and the airbox has not been bolted to the frame yet. It is still sitting loose behind the battery.