First off thanks for the help on the electrical diagnosis. It turned out (as per Jim C.'s advice) that I wasn't getting spark because my tailight was burned out! I don't think I would have ever put that together. Thanks again to all who replied.
In the midst of revival I cleaned the carburator, not paying attention to the setting on the main carb adjustment screw. Does anyone out there know what the starting setting should be? Also....any fancy tricks for fine tuning that thing once I get it running?