Cool Monty Jimmy. I reckon this is the best way to buy an old MXer, what you see is what you get, it hasn't been bodged by some backyard 'restorer' and his trusty rattle can and Supercheap socket set. The beauty of starting with something as virgin as that rusty old Monty is that you can do it yourself, the way you want to and when it's finished sit back on the milk crate with a cup of English Breakfast (Jim doesn't drink) and admire your own handywork, not someones elses......and that's all before you even get to ride it.
Have a yarn with Billy Brown and Mark Peatman at the next Penrith meeting and they'll set you straight on the proper path to take Jim. Billy got 20 solid years of racing including two Nats pre 70 wins out of his orange Monty without needing a single bottom end rebuild. Do it right the first time and you too might get 20 years of fun out of that bike.