Got my shop manual today. should make working on this rebuild easier.
Just for kicks i took the plug boot off and hooked an inline spark tester to it. and it has spark
. Just no compression. 
I'm almost positive the piston has a hole. Anyway , i plan a complete tear down and rebuild from ground up. This should keep me busy for awhile.
I know it needs a on off light switch as the original quit many yrs ago and was replaced with a 2 prong plug. And the left rear signal bracket was lost somewhere when the lights were removed for off roading. Did'nt want to risk breaking them off .
The tires are really dry and cracked. bridgstone trail wing 5. guess they dont make them anymore. What would be a good tire to replace with? Most of the riding will probably be off road when i get it going again.. i hope.
I am sure it will need bored over, can i expect any gain in hp?
Hopefully the carb will survive a kit. I know there is some tape on the intake manifold so there may be a crack. Hopefully i'll be able to repair it and reuse.
Just glad i found this site to throw some questions out there and get others advice. Thanks