RestroRob - I think the float and needle valve is next.
Piston Slapper - I let it run for around 5 mins, was tempted to let it idle a good while longer with that thought in mind.....it just started smoking so fast...figured it couldnt just be left over oil.
I deglazed, staggered - I assume the reed valve is he little valve by the rockers...it looked ok to me....I unscrewed and screwed back in....it looked to be in working order. What usually goes wrong with the Reed Valve? What should i look for?
Thanks Again for the replies and the help. Im recharged and ready to get back into this thing.