I'm not familiar with this model. Can you guys tell me from just a photo what issues you see here. TIA 

Looks like an AT-1 125 model. At the very least, clean up the spring loaded advance mechanism there at the end of the crankshaft and make sure the points are set at spec, .015", I think.

Can someone tell me what are the 3 or 4 brown looking pieces between the terminals from left to right ???

It's the same fibre insulating material that keeps the wiring terminals electrically separate .

Thanks swoop56. Do you see anything that is not correct from a visual point?

Picture is hard to see...  are points connected to green at junction block? 

Pretty sure they should be connected to orange?

hmmm

It's really hard to see...  could be okay. 
My question is why are you even asking?  What's wrong with the bike?  Symptoms?
Or is just this something you are thinking of buying? 

Thinking of buying

Wires are probably fine.  Starting advance (governor) is corroded but at least it's there as it can be expensive to find one.  Important part because it has the points cam. 

Requires 12v battery for spark.  Is a generator/starter that may or may not work.  Brushes can be expensive and may be required. Not too hard to troubleshoot using the manual.  Rest of electrical is easy because it all runs off battery.