When I rolled mine onto the trailer to bring home, it had been sitting in the shop for a number of years but the engine had been gone through and the drivetrain had been checked out, so it didn't need anything touched with in that regard.
HOWEVER, here is what I did and where I got help...
The front forks were dead. I disassembled them, cleaned them up, and put them back together with new seals/o-rings. TIP: Now is the time to paint/powdercoat the upper fork tins since the only way to take them off is to disassemble the front end. The local shop (Sport Cycle Pacific) loaned me the specialty tools to take the front end apart.
For more tips and a picture-by-picture account, go to Greg Bender's "This Old Tractor":
...and for some parts, go to MG Cycle:
The rear shocks were replaced with Harley Dyna/Sportster shocks (eBay!) for $35. Rebuilt originals cost about $600. Eye-to-eye on the ones I got are 12" and I think stock is 12.5" It is strictly a bolt-on affair.
Wiring? I replaced whatever looked like it needed replacing with wiring of the same color. Again, look at Bender's website for cross reference #s for points, condensors, plugs, starter solenoids, and all kinds of other odds and ends to keep it low-buck. I found that I can actually get alot of odds and ends at Kragen/O'Reilleys (ignition parts, drain plugs, etc.).
More later, I gotta run for now. Good luck!