Hey guys, for the engine, I'm still not decided. There are two of three points plate mounting locations still there and I think I can get a third by drilling a small hole (carefully) and inserting some thread and JB welding it in place. After that, I'm not sure. I've shown it to a few folks in the know and the feelings are mixed. One even said, just don't ride in the rain...
For the engine, agreed that it needs new rings, or could and also all new top end gaskets. But, things being things, I'm going to put it back together with just a new head gasket just to try to start it. If I can get it to turn over, then I'll tear the top end apart again. My fear is that a bearing is bad or something worse, so I don't want to put a lot of $ into the top end of this, also considering the damage, until I hear it run. It sucks I had to pull it to get it free, but after I did, it was good that I found that stuck valve - still stuck. I work on it a little every day.
I removed the oilpan recently, looks great. Amazingly, the engine is clean inside, at least what I can see.
My Theory: This bike was bought and quickly laid down on the right side. Evidence: Cracked case, mangled points plate, bent and damaged (but still OK) turn signals, scraped right foot peg, damaged right grip, and a minor dent in the tank. That was a bike killer, so it was rolled next to a garage and traded, and swapped and who knows what. Knowing that, I think it's fixable! I'm optimistic if nothing else!