ANOTHER UPDATE: She lives.
Followed Ed Moore's points instructions (thanks Rickytic for suggesting and Ed for typing that) to get them squared away. After a few kicks she roared to life. Now it's on to getting an exhaust leak plugged and the carbs tuned in (seems to only run while feathering the gas).
The engine breather tube did spew oil/gas on my leg when I first fired it up, it cleared after that and only shot out faint white smoke on occasion. I need to source where this tube goes (other than attaching to the engine).
One thing I noticed was oil leaking out of two of the cylinder head caps. I never checked them and found all four to be lose, tightened and now no leaks.
Have the tank in de-rust mode and will install a rebuilt petcock, new fuel lines w/filters, then it's on to tires and brakes.
Thanks all who have helped thus far, look forward to sharing more in the future.
New member with a CL77 (1965)
Update:
Took the front wheel off to replace tire, tube, check brakes, etc. And found out that I have a different setup than what is in the manual. The axle comes out by taking off mounts under the bottom of the shocks...made it much easier than what the manual was showing (I did not have most of the parts). Now that I have the brake apart and have cleaned then greased the cam posts and oiled the 2 felt pads, I'm finding it hard to get the linkage in the right resting place...any tips? Am I over thinking?
Minor update: I had done the vinegar soak for the rusty tank at the beginning of winter; rinsed w/ baking soda and water thoroughly, then water, then hit it w WD-40 for storage. Checked it a week ago and saw what looked like calcium build up on the underside of the gas cap (which looked basically new prior to this) and the tank had started rusting again. So I waited for a warm day and rinsed the tank with water, hit it with vinegar quick, rinsed with water and while drying held it up to the sun and saw two small (pin/pin head) size "holes" while looking in the tank. They show through as yellow, leading me to believe this was patched somehow before and painted over OR there's an old liner in there and was painted over.
My question is, should I mark the holes, punch them through, and have them welded or let the tank sit safely somewhere full of gas and see if it eats through prior to this? -Which would assume that the liner is holding it. Parts of the underside of the tank do have this black, very hard material I'm assuming was used as patch and was never sanded or painted.
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