Made a bit of progress today:
Tore down the bike and took apart the top end. Looks like the cylinder could use replating. What's a good place to send it? U.S. Chrome perhaps?
Also, the main bearings have a scary amount of play. I can grab the flywheel and wiggle the crank up and down about .025". Not fun. I'm glad I didn't ride it any more than a day!
One more thing: It has, what appears to be, an IMS connecting rod. It says Pro Series on it. The previous owner also took the time to polish the heck out of it. The pic doesn't do it justice, but he did a decent job. Is this rod worth keeping?
Ordered a flywheel puller today. The story will continue in 3-5 business days.