*side question - Do you have to install the idler before turning the engine? Can you turn it a few times to check things and then install that piece? I installed it both times before hand cranking because Clymer sets it out in that sequence, but it would be nice to postpone that part of the process to save a step and facilitate double checking the pin count between #2 and #3.
Anyway, the second effort came in nice and tight. Checked and adjusted valve clearances. A couple of them were tight, a couple were pretty loose, but it looks like the valves are closing well (they did not seep any acetone when tested).
Did a compression test. The results were much better, but still a little wonky. A cold test came up with 90/90/65/90. The 90s don't trouble me, since I expect those to come up once the new rings break in. The off-kilter compression in No. 3 is troubling. Those valves and rings should be tight. That is the cylinder that had the bad spark plug hole and previously botched insert (one of the f**kups that wasn't mine). I retapped and installed a new insert there. I know that inserts are bad, etc. But the insert is the only candidate I can think of as the source of bad compression. The compression tester is pretty hard to insert into that deep plug hole with mildly sketchy threading. In fact, before the tear down, the bad plug hole prevented any compression testing. So I may not be getting an ideal connection with the tester, and/or the insert may not be sealing well. I have a replacement head coming anyway. If I cannot sort out the compression issue, I may just swap out the heads later, provided that the various threads on the second head are legit.
Next, I ghetto timed the ignition (using the grounded exposed spark plug to time the spark). I cannot seem to find a good connection for my static light.
Installed the carbs -- which have been completely rebuilt, dipped, re-jetted, exorcised of demons, etc. Set the fuel screws 1 turn out and the air screws 1.5 turns out to start.
Ran some petrol into it. Checked for float bowl leaks, so far so good.
Hit the starter. Turned over, but didn't catch. Curses.
Installed the spark plugs

Grabbed a fire extinguisher, just in case.
Turned on choke.
Turned key.
Pushed starter button.
She fired right up like a dream. WOOT!!
Of course, there are still more tasks on my list before riding this beast. I need to vacuum synch the carbs and fine tune the fuel and air mixture. Before I get to that, however, I have a couple of snags.
1. Tachometer. I reconnected the tachometer when I installed the head, but I botched it somehow. Specifically, I get no tach readings on the dial. I must not have properly connected the cable to the worm gear. Because the pipes were hot from idling, I left it until tonight. Hopefully, it's just a simple connection issue, since I need a tach to set the carbs, idle, etc.
2. Smoke. I only ran the engine for 2 -3 very short periods, less than a minute each time. After 10-15 seconds, there was some light wispy smoke coming off the head and the header pipes. I killed the engine each time it appeared. My best guess is that various drips, drabs and my greasy paw prints are burning off as the engine warms. There is nice light smoke (not black or white, etc.) coming from the tailpipe, so I don't think the pipes are clogged. The head smoke did not seem to come from any particular source like a bad pipe connection. The gasket seams also don't show any drips or leaks so far. Tonight, I will wipe down and clean off all the surfaces to eliminate any grime that might be burning off. Hopefully that is all there is to it.
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