Well, I have started going through it and I am getting ready to start in earnest after I get my shop set up.
The good: The bike is complete and was running when parked. Over all it is quite sound. Of course I don't know what the engine will look like until I crack it open and take a peak. Tank is in great shape inside and out. front fender has a small repairable ding.
The bad: Parts I am ordering off the bat that I know are bad or beyond repair. New fork tubes, rear fender, handlebar controls and master cylinder, shocks, of course rebuilding the forks, the Mikuni carb could be rebuilt but it cost almost as much as a new one($95)so I am just replacing it, new gauges. There is some minor fin repair needed on the heads that I could skip but I will have fixed. Bearings will be replaced as needed.
So of course the engine is a mystery. It may be fine or it may have to be bored. I can tell it was messed with before so I expect the top end was redone at some point. The rocker boxes and engine covers have been replaced with chrome...it looks like shit. I am dreading refinishing these. I am going to attempt to sand the chrome off and polish back to the way it should be. If anyone has any experience with this I am all ears.
I paid $1500. My major components are going to run about a grand. I will take this to the frame and redo everything but salvage what I can. I would value a bike like this in my area with fresh everything including paint at about $3500-$4500. The XLCH will bring a little more interest though at this point I am not building it to sell. a newer Evo would have been better for that. I will of course incur many nickel and dime expenses and my time involved will be tremendous. The only thing that will save me is that I will be doing the prep and paint myself.