Got into the 360 to see a very rusty flywheel with some dirt inside around the coils. Are they all this messy and rusty? Looks like if I ever get this off it better be sealed back bigtime.

Looks like the housing is chipped in a spot or two.

If you put that flywheel in an airtight container, cover it with "Metal Rescue" (I get mine at Home Depot, biodegradable and reusable, couple of times) for about 24 hours, it will be completely rust free. I'd remove some of the rust, gently with a wire brush before soaking. Works great on fuel tanks, inside and out. Will not harm paint, nor rubber or sensors. Also in gel form.

Wow, that is rusty in there. It looks like it it may have been a condensation issue the way it is so informally rusted all around. I have a pole barn with a gravel floor and condensation is a huge problem when there is big fluctuations in air temperature. There are times I walk in my barn and my bikes are wet with condensation. It's a huge problem for me that I need to address. But I agree with loner. You can get that cleaned up.

Try not to turn the flywheel with it corroded like that... one of the other users here with a lot of experience says that he believes corrosion can rub on the pickup coil destroying it on those models...

The rookie that I am wants to feel overwhelmed because I’ve never worked with motorcycle flywheels or ignition, but I will keep plugging. I’m 58 and will probably work till I’m 70, but this project may go into retirement with me :-)

And a friend just mentioned I should get an HPI ignition set from DC Plastics. He motocrossed in the’70s but can’t work on them now due to some back issues.

Looks like you get to be an archeologist/endurologist first. I bet it runs with most of those parts. Good luck and grab your brush!

No idea how I will be able to do all of this work. I may end up having to sell this thing. I sure don’t want to have to because of all the work I’ve already put in it, but the engine must need seals, too because of the gear oil leaking the other day. Sheesh.

One area at a time. One step at a time. You can do it; we can help.

I would not soak the coils in anything.
The windings have a coating on them that could be compromised by the wrong chemical.

Just my opinion.