Spent some more time on it last night and this morning. I put a new seal in behind the points, but that wasn't the leak. Whoever was in there last forgot to put the little o-ring behind the advance and that's where the oil was coming from. Oh well, easy fix. I must say, whether it was the PO who did work in this area or the mechanic he took it to, they knew just enough to be dangerous. Instead of fixing the oil leak, they siliconed the points cover and bolt holes in an attempt to keep the oil in. I've heard of wet clutches, but never wet points!
Bike still wouldn't idle, even though it's in the 40's here, so I pulled the carbs off and threw on a freshly rebuilt set I have for my other project. Bike fired right up and idled smoothly. PO says the carbs were just rebuilt... in 2003. I guess I will be going through those too. At least that can be done inside where it's warm. Maybe I'll make a nice step-by-step PD carb rebuild thread with lots of pics!
Last thing I have noticed with this bike is that the starting gear sounds like it's missing some teeth. I haven't taken the alternator cover off yet, but I'm hoping it's just the starter gear and not the crank gear.
