I have not checked the valve clearance, but I have removed and cleaned the carbs....it was running after that, albiet poorly. So, that's when I removed the points, etc. Now new points are on...and here is an update of my problem. I set the shaft so the F mark for 1-4 is lined up with the hash mark. Then set the 1-4 points gap to the correct clearance. Then, the problem is as I rotate the shaft from there, the points open more, increasing the gap! My understanding is that at the F mark should be the max opening of the points gap. Is this correct? or is is normal for the gap to increase after the F mark? My battery is fully charged, but until I can get this gap set for the 1-4 there is not even a way to proceed to the 2-3 points gap and clearly no hope of getting it roughly close enough to run and time it correctly. So, to rehash....I set the F mark for 1-4 to the timing hash mark...set the points gap for 1-4, and rotate the cam to do the 2-3 points gap, but as I rotate clockwise from the 1-4 F mark, the 1-4 points gap increases. I don't think it should. I have tried rotating the backing plate both forward and back to see if that makes a difference, but it doesn't seem to make it any better. Please help. I'm so frustrated right now I'm about ready to give up and take it to a mechanic, which I really can't afford. Plus, I really want to learn this. It's not much use owning a 30 year old bike if you can't work on it.