Got a bit of time to work on the bike today. Gave it a bit of a tear down to assess what needs to be done. Most of the electrics appear to be in decent shape. Looks to be un-molested which is a good sign.
I pulled the exhaust system off as well. It has a 2 to 2 system which looks like it was made for the bike. I have removed that and plan on using the upper pipe on another bike.
A friend has given me his old exhaust system which I am planning on using. It is off a M109R and is a 2 to 1 system.
I need to order new indicators, tail light, levers and fuel/vacuum lines. These will most likely be ebay specials as I am trying to keep cost down.
I am still considering replacing the bulky carb system with a single carb intake. This will clean the bike up a bit.
The front fender has a lot of faded paint and has also rusted through in a few spots. Not sure if I should just replace it or respray. Budget will dictate but more than likely a respray.
I am planning to paint most of the parts gloss black, I will be keeping the tank the original colours as it is still in good condition. I will be using red accents on the bike such as fuel lines, grips, horns, levers and such. Hopefully it does not look to tacky.