Now that the sun's out I have made a bit of progress. I pulled off the carb that insisted on making a mess, made sure there was no crud blocking the float needle, tweaked the float level a bit, and SAME THING!!!
I hate carbs...
Sooo, I pulled the carb bowl while still on the bike, it was empty :-? I then saw the pinhole in the bottom of the carb bowl. I knew I had had to scrape out a lot of corrosion, but didn't realize it was THAT much!
Being rather disgusted with the whole thing I pulled both carbs, slapped on my spare pair of R100 carbs, and it cranked right up!!
Still killed every bug in site, but it actually idled good (about 1k) without doing any adjusting, and once warm starts by just touching the starter button. After several start/stop/rest chcles the smoke is now diminishing considerably and I am feeling much better about the whole mess.
I had less luck with the gas cap. It was frozen/welded solid into the tank. I had been soaking it for about a month with liberal doses of PB Blaster, I put a large screwdriver in the handle last night, gave a good twist, and half of it remained in the tank.
Guess I need to add a float bowl AND gas cap to my major "parts-to-scrounge" list which is now:
Rectangular front master cylinder
But, things are looking up and the Dyna coil seems to have plenty of juice to fire everything up just fine, AND the $48 generic sealed "Odyssey Clone" battery appears to have plenty of crank in it.