I have just gotten a 78 550k running after sitting for at least 7yrs, i dont know the history but when i got it the motor was seized and the spark plug in #2 was missing and water was in there, i siphoned that out and poured oil in the cylinder and eventually by using the kick starter the engine moved, well then it sat for another year and i finally cleaned out the carbs, changed the oil, plugs and drove it around the parking block
Right now it does not have the airbox connected because i cant figure out how to put those rubber pieces back on between the carbs and airbox. So it only wants to start and run with the choke closed. I currently have another bike, a 74550 that didnt have an airbox and it has ran great for the last 5 yrs.
Anyway, I'm getting lots of smoke (but no fluids) out of the breather tube above the cam, is it possible this is just from me putting too much oil in the engine, which is something that i did when i changed the oil, is it bad to have a little too much oil? i've read about the rings sticking and i'm hoping that's not it, so could it just be excess oil?