well I haven't been doing very well keeping this thread updated. I got her all running, paperwork from ITS title service, and took her down to the DMV a month or so back. All went perfectly and I got my plates, registration, etc. Title itself came a few weeks later, but it came and now I'm all set for that end of things.
here're the pics on title day!


I drove her up to my work a couple weeks later, after a few more important things like replacing the drive chain and setting it's play. It ran great, but wasn't very fast, it was almost like riding a scooter,constantly pulling off to let others by. in fact I got passed by a school bus! I had to run the real two lane highway for a few hundred feet and I wound her out as much as I felt safe and only hit about 50mph before I was afraid to rev any higher. being an old bike, theres not too much surprise, but I've since learned she should be capable of much more.
went by the local restorer, he was duly impressed and helped me check my generator and regulator, which turned out to work just fine! he commented that there was very little valve noise, either the PO had been a genius or they were too tight he said. he was impressed with the overall running tho, so I was very happy.

then I went to ride it in the dark one evening, and in the shadows I could see the pipe on the right GLOWING red hot. this worried me quite a bit, so I started in on the valve clearances, which were loose if anything, then moved to the contact point gap. here i found an issue that the gap was huge, way wider then any of my guages, but only on one cam lobe! the other lobe didn't open the contact at all!

I realized it was the magneto armature wobbling so much that it wouldn't keep the contact braced against that lobe. So I went over to the drive side to see about removing the mag and found that it was even worse!! not quite enough to let the gears slip, but enough that the fibre gear was in jeopardy of being broken.
The one thing my restorer friend said was (pointing to the mag) "whatever you do, don't ever take that off this bike" unfortunately it now sits with the magneto removed... good news is I found a new friend who had a few around and put one together for me. still with the original armature and condenser, but with spark and decent bearings. it should be enough to tide me over while getting the other rebuilt and continue to find what else needs attention!