Long story short - rebuilt the engine a week before going to Barber. Fresh 540cc piston/rings and the top end refreshed - cut valves, new seals.
Was blowing oil out the exhaust but running well. Took the rocker cover off, removed the springs and noted the exhaust stem seal was not seated all the way and/or was defective pulling oil into the exhaust pipe.
Replaced both intake and exhaust seals and the bike stopped puking oil. After a few rides the rings have started to seat. Compression is insane now (difficult to kick, now I need the decomp lever put back on) and runs like crazy.
Riding home from Kiley's place Friday night in the pouring rain it became evident the rear caliper was rubbing on the rotor (metal on metal). Bike started slowing from 80 on the interstate, and I thought it was fuel. Pulled under an overpass to see my rear rotor bright cherry red. Thankfully it didn't seize. The fluid boiled and was pressing the pads together. Lucky lucky pink fork gaiters saved the day.
Removed the caliper and continued on my way. Now just a leaky tank to take care of, which might be solved by the $10 Barber swap meet yellow plastic jobbie I just laid on the frame.
Love this thing! Stupid fun to ride. Ask Doug.