By the way they've discolored along pretty much their entire length, I'm guessing they're stainless, and they look like a larger diameter than stock as well. With AR inserts at the head, I bet they'd work quite nicely .....
No... motor comes out the right side. Suppose you could try the left, but it's much easier from the right.Out the left side correct?
Aftermarket. Pamco... which is no longer made.if this is the OEM ignition or aftermarket?
Never used the Clymer book. Here's the Yamaha factory book....My Clymer says left side, but......
Jan_P, the chain is dry and that will explain the light surface rust which is common when a bike is left in storage for a while. I would just apply more oil to the chain at regular intervals. The sprocket is in good condition. I am not sure what you mean by the old school link but I have always used that type currently fitted. The safety issue is that the clip should point in the direction of chain rotation which is how it is fitted on yours.
Oil leaks: A good clean down will be helpful. Often the large nut on the sprocket will be loose and this is suggested by the radial oil/rust marks on you sprocket. This nut needs to be tight to seal properly and this is best done with the chain on so you can apply the back brake while tightening the nut. There are two routes for oil to leak from around the sprocket shaft. The oil seal addresses one route and tightening the nut addresses the other. The other main source of an oil leak is the seal around the clutch push rod. This seal is best replaced with the chain and sprocket removed. Where the seal fits into the casing there is a very sharp outer edge. I lot of people deburr this edge which then makes it easier to insert the new seal without accidentally cutting it. Take a photo of the old seal before removing it so you can see how far the new one should be pushed in. If you try to force it in too far you will damage it.
I suggest you clean the casing, remove the chain and sprocket, replace the push rod seal and then refit the sprocket and chain. This can all be done with the engine in the frame. I would not replace the seal behind the sprocket at this stage because it is probably still good, but if not it is easily replaced later with engine in the frame.
I am not sure what to do about that missing clip that holds the wiring away from the chain??