This is the order TwoTired gave me when I first got my bike:
TT’s Tune Up Sequence
Here's my routine on the 550s, beginning with a cold engine:
Pull out the spark plugs, note their condition, read the deposits. make notes.
Pop off the points cover. Position the crank for the cam chain tension adjust.
Adjust cam chain tension.
Adjust intake and exhaust valve clearances.
Do a Dry compression check. Make notes. If anything abnormal, do a Wet compression test. Make notes.
Clean or replace points, Set point gap and static timing. Lube point cam.
Clean/recondition spark plugs or replace them.
Clean or replace air filter.
Start engine and allow to reach full operating temperature.
Check dynamic timing and mechanical advance function.
Check carb vacuum sync.
With an unknown bike, check pilot screw adjustment. My bike; leave it where I set it last time.
If I didn't change the oil (Hot) last night, do it now.