So, I bought this one about a month ago, needed a tune up something fierce, ran really rough and smoked (blueish) compression test showed #5 only 90lbs,tires held air but looked ready to pop. So I replaced the points,cap,resistor,and plugs, compression test showed #5 only 90lbs pulled the tires and wheels off, replaced the axle seals in the rear, replaced the drivers side outer wheel bearing, sandblasted the brake drums and wheels, painted the drums and had the wheels powder coated, got new tires....
then put it all together and took her out for a VERY short trip about 1/4 mile. Smoke decreased significantly after about 10min of running (hope the rings were just stuck). FUN FUN FUN is all I can say!!!! I'll put up a couple of pics when I get them downloaded.