wow, I'm not sure how I'm funding this project with a decent full time job and no kids - but that's awesome. I'm sure you'll be a head of me in no time.
Good call on the carb, my engine was apparently rebuilt 2 years ago, so I'm hoping the carb was looked after in that operation. But I will be looking into it myself to ensure its in good order. Nice catch on your part, that needle looked terrible.
I have got a bit further with some sanding on the plastics, and more cleaning on the swing arm but nothing picture or post worthy right now. I'm also going to be away for 2 weeks so that will slow things down as well... by the time I get back I may need to come up with some garage heating to - winter is on its way here
Start a build thread, its great to have some communal knowledge on this kind of project.