Bloody hell Ken sounds like you have a big job on your hands there gettin that one
up to race ready spec, hope it all works out for you because Lake glenbawn is only a few weeks away. 
Dont worry this sort of stuff happens all the time when you buy new-secondhand (race ready bikes) im goin
through the same sort of scenario with 2 of mine at the moment, the yamaha and the 89 500 ...
The yamaha was claimed to be race ready but only lasted one race then the crank went south :'(
and the 500 had a few missing parts namely radiator protectors and air filter plus the fly wheel cover had a
hole in it ...
That's pretty shitty to hear, if someone says a bike is 'race ready' I'd expect everything to have been rebuilt in the last couple of years, not just a new top end.
As for the CR250, was it a sight unseen ebay purchase?
It wasn't an eBay sight unseen purchase, it was from an Aussie who brought it in from the US. He said he had ridden it. Mmmmmm
It gets better. After a full top end clean & rebuild and replacing just about all the fasteners, it started sweetly but as I revved it, this creamy looking gunk began to come out of the gearbox breather tube. Upon closer inspection, it was a mix of foamed up gear oil and coolant! Ah yes, the infamous water pump I have read so much about.
A bit more work to do to get to the Lake Glenbawn start line. I think I got totally spoiled with my RZ. It arrived sorted and ready to race.
