Cool. All of the main bits are off the bike again and the new parts/stuff should be arriving tomorrow. And the tank and panels are in for painting - Christ, why couldn't Honda use the same shades of golden sunrise orange (or whatever it's called) on the 450 and 750? Yeah, they're a couple of shades different.
Moving swiftly back to the 450, I tried it again today to see if I'd missed anything, and when I tested the compression from cold, both cylinders registered the same (IRO 135-ish). Still didn't get it to fire up, but that's probably gotten something to do with the, ahem, wrong spark plugs. Don't ask me where I got them from, but I found that I'd been using BR8ES's rather than B8ES's, which would explain why it's sparking, but not powerfully enough to fire. Muppet.
Anyways, after a rest, I tested the compression again and the right hand reading was 20 or so down. Stuck some light oil in and tried again - readings were back to the previous levels. Bearing in mind the cylinders, rings and pistons are all NOS, I'm wondering if the drop off has something to do with the rings not having bedded in - if the right hand carb is set rich, could it be that the unburned fuel is washing in and round the cylinder and draining down through the ring gaps? If it ain't that, I'm struggling to know what else might be out . . .
. . . phew . . .