The #3 son and I purchased a Mk III with 13,000 miles in March that ran - somewhat. We're on the long road of restomod.
First we had to replace the junk pod filters with decent K & N's (and they do actually work)
Then we put led lamps in the instrument panel and an H4 for the headlamp.
Valves only needed a little adjustment.
We've been "beta testing" a fancy ignition system for the last 4 months that I have yet to install for the 3rd time. I'm hoping this will be the fix to a smooth running V50.
The good news is that in taking all the ignition off, including the points plate and advance plate, I found the points were installed so poorly that the timing mark wasn't visible while it ran. So I rebuilt the points & plate correctly, timed it right on the money and the bike runs much better.
We're experimenting with the Carb jets and it runs well but gets poor gas mileage, mid-30's. After we get the fancy ignition to work properly then we'll go after the jets.
Last weekend we installed Race tech fork springs to our weight and cleaned out the shocks but I figure the 35 year old air cartridges need to be replaced.
Then I'll go after the new rear shocks the previous owner put on that are over-sprung. Sag is 12 mm with a 200 lb rider.
Finally my 190 lb baby boy agrees that the pegs are to far forward and the handlebar is to upright so we'll be putting on rearsets and maybe a dragbar.
When we bought the bike it looked reasonably new with good Avons and good brake pads.
I look at this as "shop" education for the boy that was eliminated from most California schools.
Then again his "new car" is a '81 Peugeot 504 Diesel Wagon that sat neglected for 7 years
It's good to have hobbies. and I keep thinking about a v65 left slightly disassembled & neglected that 's priced at $500