I haven't jumped on this as quickly as I used to when I got a new old toy. After some troubleshooting I found that the headlight relay was bad. I found one in my spare parts from the previous XV, so that solved the headlight and dash light problem. The only electrical issue is the sticking (I think) rear brake light switch. It's a sumbitch to get to so it's going to wait a while.
Andy and I decided to remove the carbs to clean and inspect them as the seller mentioned he couldn't get the round things (slides) out. The slides were very stuck because of some old gas that had turned to varnish. After removing the slides, the varnish washed off easily with carb cleaner. No nasties found when disassembling the carbs except an extra spring on one of the pilot screws. Carbs are back together now after cleaning in the parts washer. They look better but would need ultrasonic cleaning or vapor blasting to look good. Yamaha lists only a fuel level spec for the carbs rather than a float height, so I'll have to check that when the carbs are back on.
In the process of removing the carb mounts/manifolds, I put a little thumb pressure on one of the manifold ears and it broke. I found a good deal on eBay for a pair of new ones with new o-rings and clamps. I initially received only the parts for one cylinder, so I contacted the seller. I received the missing parts yesterday. I also bought new manifold gaskets. I'd like to get the carbs back on the bike in the next few days, hook up the external fuel tank, and see if it runs.
Earlier this week I drained 5+ quarts of thin gas/oil from the bike instead of the 3.2 quarts of oil required. After letting it drain all night, I installed a new filter from the SR500 parts tub (XV & SR use the same filter!) and put 3 quarts of new, cheap oil in the bike. When we get it running, I'll change the filter and put some better oil in. I was happy to see (literally) the oil level in the middle of the inspection window. I thought the window may have been darkened from sitting so long but it's still pretty much transparent.
I'm currently waiting for my shop help to return from the Mecum MC auction in Las Vegas.
Wade Dunham