Engine Advice - Rebuild or run it? Anybody to send it to rebuild?

[jjwithers]

I'm starting a cosmetic restoration of this old gal.  I have it completely torn apart aside from the engine (still mounted in the frame) and the front wheel/forks are still attached to the frame.  

The bike was registered up until a few years ago but I have no idea what the history of it is.  The forks and transmission are bone dry.  
After closing the spark plug gaps (It had a weak spark), cleaning out the carbs (they were nasty), hooking it to a live battery,  I got it running.  In fact, it fired up really easy.  
I replaced the regulator and coils and now it kicks over without hesitation.  
The right side smokes a bunch though.More then the usual 2-smoker.   In the Youtube video, it isn't too bad.  But if you can see the instagram link, it is smoking really bad.  Perhaps it is the jetting / carb balance?  

My original plan was to take the engine out, clean it, rebuild the carbs, and put it back into the frame after I have it powder coated and revived.  
And if the engine needs work, I can address it then.  

Now I'm thinking that if the engine needs rebuilding, or transmission work, now is the time to do it.  
I have no idea how the bike shifts through the gears (the tires are flat but I did shift through a few gears on the center stand while running).  

The engine isn't that big to ship, is there somebody who rebuilds them?  

I'm considering adding an electronic ignition too.  

Or are there signs to look for that would mean it needs re-sealing? Or ways to check the tranny?  The heads look like they are easy enough to pop off.  Maybe see what the pistons and clyinders look like?  Any other advice?  

I can say that lots of goopy oil was coming out of the right side header.

<iframe width="560" height="315" src="https://www.youtube.com/embed/4_bd_MSQqXY" frameborder="0" allowfullscreen></iframe>

This was the first time I started it up after I got it.


This is my 13 year old daughter helping me wrench on the old gal:

And this is it running with the new coils and rectifier.  You can see the smoke in this video:

[srpackrat49]

 This is my take on it..... on the right side is the trany..... if that crank seal is bad it will suck oil out of the trany.... I,ve had this happen on some of my Yamahas  bad cranck seal... When working on old 2 smokers... allways replace both seals... and then you,ll find out the had way that the bearings were bad too... did,nt do those...  Been there.. done that...

[nickb st]

I would rebuild - it must have been taken off the road for something !

usually its something not quite right ie excessive smoke , poor performance

if you rebuild it first you may prevent excessive damage - and you know its
going to work and not let you down !

all the seals are over 40 years old now - hard and failing - why risk wrecking the engine

(my bike has 3 inches of gear oil in the crank - it might have saved the crank)



everything will be striped down and repaired - if not the parts will be on ebay where all
unloved bikes end up....

[jjwithers]

I hate to see complete bikes parted out. 
But if you do, let me know.  i see a few pieces i'd need. 

Back to the engine though - Is there somebody who specializes in rebuilding them who doesn't cost an arm and a leg... and doesn't take forever?  I'd like to see it done right vs sitting on my workbench for a year or so.