Back to work!
Pulled everything off the wiring harness and checked it over, wire insulation is awfully brittle; it'll need to be replaced, but is going on the bike carefully, with exposed sections taped over.
I fabricated this coil / condenser mounting bracket, it'll work nicely although it's probably another part that looks nothing like the original; condensers mount vertically between the coils, which mount the affair to the bracket on the frame-
Cleaned up and installed all of the following-
Coils
Condensers
Light switch
Key switch
Headlight socket
Zener diode
Rectifier
Kill button
Dipper / horn switch
Front brake light switch
2MC capacitor
Had to install about a half-dozen connectors, including the points wires which were chopped instead of simply unplugged. Found the best battery in my stack of old/used ones, serviced it and stuck it on the charger, it came right up. EVERYTHING WORKED! Nice fat blue sparks from both plugs. Still need to clean up and install the horn and rear brake light switch, and check the tail light socket.
Dumped the sump (1/4 cup of very dark but free-flowing oil). Popped open the rocker caps to check around; valves were all properly adjusted, but it's evident the engine was NOT overhauled anytime in it's recent past. Slight sludge buildup in the corners, bits of black grit, etc. (hard to tell from this poor photo)-
Installed the gas tank, new set of petcocks & fuel filters, oil lines, and spark plugs, then it was off to the gas station for a couple of gallons of gas.
Before dumping in the gas, I filled the oil tank about half way up, then knocked loose the rocker feed banjos and started kicking. Took 20-30 kicks to get a dribble up top, oh my aching leg.
Stuck on a set of chopped Commando pipes, rolled it out into the sunlight and started screwing with the carbs that wouldn't tickle. They were totally clean inside the bowls, even the screw-in low speed jets! Had to replace one bowl gasket to get the left carb to stop dribbling.
Gave it a proper tickle, squirted a shot of starter spray in each carb, and got after it. It took 3 kicks to get signs of life out of it, had it catching once, but I was worm out after all the pre-oiling; need to check the points and timing.
Anyway, it's definitely going to be running by tomorrow, and I'll take a ride after I unstick the clutch and install the rear brake pedal. I SHOULD have the original pipes back from the welder who is patching them; I'll meed to work off a LOT of rust to make them look half presentable.
Just over 26 hours from basket case to runner, although the engine was already assembled.