Wanted to give an update on the project. I got fed up with the whole points thing and didn't want to throw any $ into an antiquated system. Instead I ripped the whole bike apart and replaced everything. Mike Morse, from 650 Central in CA was super helpful
http://www.650central.com/
Mike gave some great advise and I purchased my Boyer ignition set-up along with a solid state regulator and some other cool stuff. I also opted for a new wiring harness from Mike's XS. The install was pretty straight forward. Timing was a little trickier (you'll need a timing light to dial it in). Ran into a bunch of small stuff along the way (like the fact that P.O. had no business wrenching on this bike). Missing carb springs, clutch assembly installed all wrong, etc... Took some time to sort it out and find the correct parts. So far I replaced:
Entire electrical system - Boyer ignition, Solid State Reg, wiring harness
Rebuilt the tach (that was an experience). Made a great tach out of 2 bad ones
New fork seals
Tapered steering bearing
New wheel bearings and seals
Rebuilt carbs (jets, float, needle, seat)
Replaced both petcocks (Mike's XS had a set of the correct ones. They are proud of them, but the cheap set on eBay were total garbage, didn't line up and leaked like hell.
Rust blasted and sealed the tank (look brand new inside)
New throttle cables
New piston rings (honed cylinders)
Resurfaced valve seats
New valve seals (adjusted valves, of course)
New 13MM master cylinder (650 Central)
Caliper rebuild kit
Super cool LED headlight was a direct replacement, plug and play. Surprised and very happy about that
Bunch of new fasteners and other shiny stuff
New tires
Oil Filter Kit (Mike's XS)
New sump filter
K&N style air filters
New AGM battery
New horn and flasher relay
Other stuff I can't remember
The bike runs like a dream. Super hot spark, charges like it should, shifts like butter and altogether looks cool.
Some stuff I'm trying to dial in: (advise and smart a$$ comments always welcome)
Can't seem to figure out my turn signals. The front signals are integrated into the new (super cool) LED light. I'm following the schematic. Dark Green and Chocolate wires for turn signals, but I'm getting nada. Perhaps it's my switch? I just put in a new flasher relay (of course after my clutch cable debacle I'm not dismissing a new part being bad).
Speedo not registering. I can spool up the cable with my drill and it works, but them when I connect it to the worm gear on the front wheel, no go... Maybe I didn't set up the front wheel correctly, but that seems a bit hard to accomplish. I looked at the diagram and it looks correct. Not sure there are too many ways to screw that up.
This is a perfect set up for someone to call me out on it...
The bike is cold blooded. I expected that. What I didn't expect is that only one of the carbs has an enriching valve on it, and it works like crap. Once I get it started, for the 1st time, it's a one-touch machine. However, I don't want to burn up my starter one morning... Anyone know of a better solution (choke kit or a fix to this issue)?
Front caliper was so frozen, Disney wanted me to pay royalties. I soaked it for days in every chemical known to man (yes, I'm replacing the seal kit so I was not worried about the rubber stuff swelling). I finally found a neat trick using a grease gun and after 2 hours and exhausting my 4-letter vocabulary, I was able to get the pistons to come out. (I realize I could have bought a new caliper for $99, but where's the fun in that)!? I'm also soaking them in some rust blaster (for good measure) before attempting to install my front brake (Don't worry I never left my street on the test ride, so my rear drum was sufficient top stop me from a blistering 25MPH terminal velocity).
As soon as I sort out my laundry list, the sidehack gets its turn. Plan on dismantling it, setting up a point booth (state-of-the-art 10x10 EZ-UP with some plastic drapes) and applying copious amount of top secret paint to the entire project. (Spoiler alert; taking it back to semi-original 1975 color scheme).
Well, that's it for now. I'll update with before, during and after pics, once the project is complete. Thanks for everyone's help and advise. Please keep 'em coming. This has been fun, frustrating, at times, and educational. Glad to know there is a pretty cool community of XS 650 gearheads out there.
I chose to do this project rather than buying a new Triumph Scrambler with a side hack. Perhaps that was a lapse in judgement, but I was drawn to the 45-year old Yamaha and felt like I wanted this XS to be something special. I'll revisit this decision in one year from now with some hindsight at my disposal. Stay tuned...