Started on the valve adjust odyssey Dec 2. Finally got 'er back together and rode Big Red last weekend. Most of the time working on the bike was cleaning up the grime under the tank (air intake, carbs, valve covers, plumbing). Apparently PO habitually kept the crankcase overfull of oil. After carb sync the engine idles pretty smooth - always pulled strong though, even before the carb sync.
Next project probably the rear shock fix. Then front brake (not a smooth pull, kind of binds, then finally lets go and then you're braking too hard).