Re: Can you skim my plan for restoration?
Spark plug looks OK, but I have a vendetta against multiple tip plugs. Get an NGK b6hs or b5hs. Most auto parts stores sell them. The next step is disassembling the carburetor and give it a good cleaning. Get some carb cleaner and make sure you spray through the main jet. When you pull the bowl off, the brass tube that you see is where the main jet is. It's usually a flat head or a small hex that unscrews. Clean the needle carefully too.
Once the carb is clean and reassembled properly, see if it has spark. The wire needs to be changed, obviously. Sickbikeparts.com has a good replacement plug wire and boot. The wire literally screws in to the CDI. The CDI has a small screw post on it designed to tap in to the wire. Once replaced, place the plug in the wire (keep the plug out of the head) and lay the spark plug against the head. Spin the engine quickly and look for the plug making spark. Without the plug in the head, the engine will spin faster.
If you have spark and a good carb, the only thing left is compression. When you take the head off, you should be able to see the condition of the cylinder before getting too far.
So there you go. All that stuff should give you a good running engine. Then you can worry about whether the clutch works properly and tuning the carb.