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I took a few minutes to learn how these things work (it's about time.)  I ordered a new CDI box.

Thanks to you all.  And Happy Hollandaise!

The good thing is that this is stone age technology.  Not much to test.  I did quick continuity checks on the coil, CDI, and stator.  They all test good.  Didn't check for exact resistance yet, though.

What strikes me as odd is that the plug will spark after the crank has stopped moving.  Is this unusual or no?

My son just picked up a 1986 Honda TRX250R.  A non-running one.  Here's what we know:

1- Plenty of compression.  Top end brand new, never started.
2- New coil and stator, installed by previous owner.  We did not pull the cover and look at the stator but the wires are certainly new.
3- Carb was cleaned and the plug gets wet.
4- It give an intermittent spark.  Sometimes none.  Sometimes right after the crank has stopped moving, we get a spark.  It's a decent spark.

I'm thinking since the coil and stator are new, it's probably the CDI box.  Any input is welcome.

And as I recently turned 62, I'm sure it's now just a conversation piece.

Haven't used it in 15 years or so.

Before and after of my recent KX500 restoration.  I've owned this beast for over 20 years.

It's a '75 RD350, Chuck.

Both good ideas.  I really hate messing with the points so I imagine that's where the trouble is.  Murphy's Law and all.

Another satisfied Caswell customer here.

Fuel flow seems good.  I think I'll try a bigger main, but I'm already at 290.

I rode it a bit yesterday.  It starts right up and runs along fine in midrange.  Crack the throttle and it goes flat or maybe just running on one.  If I ease into the throttle it will take it.  Winds out until about 8500 then pinging starts on the left side.  It just doesn't seem consistent.  Except the pinging.  Get the revs up there and it always pings but just on the left.

The issues are sputtering and pinging.  Not necessarily at the same time.  I've tried a larger main jet and that didn't work.  I haven't spent much time riding it to really get a good feel.  I need to do that but the weather and life just don't seem to cooperate.

Knowing me, I probably put the cheapest Ebay points on it.  I know that I ought to do a CDI but that's not in the cards at the moment.

The battery is an alarm battery.  No idea about it's condition except that the bike does start and run.

What's a coil relay mod?

So Mardy, the RD with Spec II porting and pipes and stock carbs isn't running 100%.  Ignition is points with coils from Spec II also.  I spent lots of time doing my best to set the points up correctly.  Seems to run well most of the time, far better than it had been while I dealt with jetting.  But when I'm twisting the throttle, I have some issues.  I live in the Ohio River Valley and ride up and down some pretty steep hills.  The petcock is stock also. 

Could I be experiencing fuel starvation?

If so, is there a way to mod the petcock to flow a bit more?

The paint is Krylon rattle can with 2K clear.  Turned out as well as I could have hoped.  It could use a wet sand and polish (a tiny bit of orange peel) but from 5 feet away it's shiny and gorgeous.

It's a bit out of the norm for 2SW but I'll share.  In January 2008 I bought a KX250 that the PO had stuffed a KX500 engine into.  I rode it around my yard once, and put it in my shop to check it out.  Man... what a hatchet job.  So I tore it apart and started the rebuild.  This was going to be my old man dirt bike.  All nice and decked out.  The last dirt bike I'd ever need.  The rebuild was well under way when....   the fire broke out.  My oldest son took it on and got it running but there were some details that needed attention.

Now that Mardy is done, this beast gets attention.

Actually, I call it Mardy.  5 years ago, this 6,000 mile bike was in my shop when a fire broke out.  It was sooty, rusty, and just plain nasty.  I nearly put it on the curb for the garbage man.  Fortunately, what little bit of conscience I have wouldn't let me do it.

I documented most of the build here in another thread.  Many, many, many thanks to all those who answered my questions and gave advice.  Even more credit to Mark for reviving 2 Stroke World so we all have a place to keep these old zingers running.