I just yanked an R50/5 out of a garage here in Seattle where it has sat for 35 years.
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I cleaned it up a little bit today, and I'm looking for some guidance:
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Overall, the paint on the fenders is pretty clean. On the gas tank, there are rust pits here and there. The frame and other components have gotten pretty rusty. The bike was dropped at some point, and the headlight housing will need some body work (I think I can braise the ring back into acceptable condition).
Is the general consensus that I should get this into clean/running condition, and otherwise leave it alone? Will I destroy the value of the bike if I get the frame painted?
As far as the budget goes, I can sink $1000-2000 into this project. I have already ordered a new battery, carb rebuild kits, and a new petcock (one is pretty toast), as well as oil filters and an air filter.
What would you guys do?