Looks like a great initial approach, Mike.
i like to drop the sump pan in cases where an engine has not ran for decades, you'll find 'dirt' has settled in the pan after sitting that long. before i make initial start of engine, i pour about 3/4 quart of oil through the #1 valve inspection opening, this way the pump will prime and not have to starve until oil gets down from the tank to the pump. it may be a good idea to flush the oil tank if the oil is dirty, at least when the tank is empty, inspect for sludge, most oil tanks have sludge.
if you have access to an ultrasonic for cleaning the carbs, that's the most effective way to clean carbs. other than bowl gaskets, i generally don't replace any carb parts until after i have the engine running. other than the chrome plated slides, needles and needle jets there really are not any moving parts to wear unless the air screws have been screwed in past their stopping point. i wound up having to replace the needles and needle jets on E2241 to get rid of a severe off idle stagger that would occur when opening the throttle off idle underway in the lower gears. of course, clean the bowl on the fuel tap, replace the tap washers if the tap leaks.
i've never used vinegar for rust removal, but i have heard vinegar (and molasses) works really well. i like using Oxalic acid aka wood bleach, it is available in hardware stores, very gentle and very effective. in more severe cases of rust, i use 3% Phosphoric acid solution (Naval Jelly) in the most severe electrolysis. any residual rust, i put 3/8" and 1/2" nuts in the tank, pack the tank in foam and cycle it through the clothes dryer (no heat.) the result is beautiful raw steel.
probably a good idea to check valve clearances, clean/adjust or replace spark plugs, dress the points if pitted, check/adjust points gap and check ignition timing as well as adjust cam chain tension.
in 'dry' engines that've sat a long time without running, i like to put a few squirts of oil in each spark plug hole.
if you don't have a shop manual, good resource to have, an old clymers or chiltons will tell you what you need to know.
1. is your choke arm long or short ?
2. it looks like you carbs have the later non-28 caps ?
3. is your tank a 19 or 17 liter ? (there are two 17 liter tank types elsewhere and recently noted on the forum)
4. if your tank is 19 or early 17 liter, do you have a short neck (very rare) fuel tap ?
5. is your kill switch knob pointerless ?
6. appears you have the short neck upper brake line ?
7. very likely you have the later type sandcast gauge drives ?
8. are they ferrules on your oil lines the smooth, not ribbed type ?
9. are the oil lines smooth or webbed fabric ?
10. does your lower steering head have the gusseting for the steering damper ?
11. does your brake reservoir have a leveling ring ?
12. be sure to go to "88 model distinctions," you will be able to identify the various early parts unique to 3 digit and earlier vins !
13. last piece of advice (for now!) throw no parts away ! quite a few of the parts unique to 3 digit vins are irreplaceable !
