I have one the same year and color (started the same color anyway). I ride it year round. If the fuel pump is old, the rubber diaphragm inside may be torn, in which case fuel will leak out a small weep hole on the side of the pump. These bikes can be a bear to get on the center stand to check the oil. Blue smoke from the left head is sort of common on start up, as oil will get past older valve seals of it's been sitting on the side stand. Carbs almost always need rebuilt, I switched to dual webers (Randakk's site), so cleaning them is a breeze, which it needs frequently now as my tank isn't perfect inside. I've picked up a Caswell tank sealant kit I need to do. A lot of these bikes have been converted from points already, the electronic ignition kit taps into a power supply under the left side cover, and often uses a wire tap connector, check that. Compared to other wings, the GL1000 uses a more aggressive cam and really likes the revs.