Yeah, well for sure it's got gas ! I've noticed today, plenty ! I'm chasing a fuel overflow issue, tested base of brass
choke tube to bottom of bowl with air, main jet (has a
fiber washer, not an o-ring,) also, does have a removable
float valve seat, removed it and took a q-tip in a drill with some polishing compound (toothpaste !) and polished it up good and shiny, lightly the same with the tip of the
float valve. Will try to get back to it tomorrow, gotta double check the float height, I didn't spend as much time on it yet as I perhaps should've. Still remain to
remove bolt and check flywheel key. I'm thinking this
fuel issue could be the source of all the trouble !
RT, will post again, when I finally "Sherlock Holmes it"
dailyrider

Confirmed the flywheel key was where it should be. Well, after removing the carb again, (don't ask how 
many that makes it, don't know...!) RT, for sure, You
we're right, I missed something...
The overflow issue, lesson learned..closely,thoroughly 
examine Your parts. I will blame this on my 61
y.o. eyes....
I discovered a crack in the brass frame mounted
to the floats. I believe it was the right side. 
The frame was hence crooked, making the 
float askew. I gently bent it as close to even
to the other float, to where it looked correct.
Double checked the valve needle tip, spinning
its point in a rag, double checked the seat, blew
out all the passages again for good measure.
Choked it, and started and ran beautifully after
the third kick. Took it for a hard spin, came back
to the shop and let it sit for a couple of hours with
the petcock on. Took a look and no overflow !, then kicked it over on the first one !  So, if You are fighting a seemingly
insurmountable carburetor issue, get out Your 
magnifying glass...
Ride

daily
RT, I appreciate all the help.

 

We're all here to help & top marks to you. Very satisfying when you nail it.

Absolutely RT, I had been "hired" to get it to go,
I've way too much time into it to charge the lady.
But it turned out it wasn't about payment, the 
satisfaction, after 15 years, was in
bringing it back from it's 'Lazarus' state.  Makes 
me want to find some more bikes to resurrect...
Thanks again !

“Makes me want to find some more bikes to resurrect...”

uh oh……   I remember saying that exact same thing back in 2014 when I picked up my first one for a winter project. They have since multiplied by an average of one every 7 months since 2014. I now have a backlog of project bikes, but they were acquired before prices went thru the roof. Always keep your eyes open and be prepared to act fast when you find one. Good luck! 

Wow... yes it's addicting...obviously ! (there are lots worse addictions to have though).
Prices we used to see, well, probably won't again...bikes
and everything else.