Here are a few pics of it torn apart. I've never seen a motor with so much carbon buildup. At least the cylinder cleaned up nicely with the hone and the piston looks like new with it cleaned up.

 

Thanks again. I'm getting ready to reassemble the motor and I've been finding different answers as to how to offset the ring gaps when I put the new rings on. Does anyone know how they're supposed to be situated on these motors?
Also, how tight is the timing chain tensioner supposed to be?

 

I have the metal head gasket and I've been reading that some sort of sealer should be used with metal head gaskets. Should I be using a sealant on this one?

 

Thanks to everyone for answering my questions. He's put quite a few miles on the bike since I got it back together and it has much more power now than when he bought it a year ago. No more burning/ leaking oil either.