Ok guys, A little bit of an update...
Over the last few months I have been scavenging some bits that the old girl was missing, such as the water pump outlet housing, a set of samco hoses (the one i was most in need of didnt fit ) and a few other bits and pieces, and I am now in the position (more or less) to get stuck in and have a play.
I dropped the motor and gave it a degrease and a quick look over, the jammed it back in and connected everything back up. I've also pulled the thermostat and dropped it in boiling water, and sure enough, it opened right up. Win!
I also put 12v on the power valve motor (while hooked up), and there was movement, but it looked like the cables were restricting its movement as it only moved a few mm... does anyone know if this is normal? I have half a dozen spare power valve motors if not.
Tomorrows job is to pull the carbs off and give them a clean. I have mixed some 2 stroke in a coke bottle with some hose to the carbs, so hopefully I can get some proof of life out of it.
Wish me luck...