Hi Buckets
MF is on the money, it will most likely need a carby diaphragm and lines at the least. Usually by this age (would be about 25 years old as 32:1 was a later addition), the air filter is powder.
If it is good, the way I like to clean filters is 2 containers - 1 filled with petrol, one with clean water. Dip in petrol, gently squeeze to get dirt out. Then immediately dunk in the clean water and rinse thoroughly.
You can just use soapy water, and this is fine if there is no oil in the filter. But to get the oil (and its entrapped dirt) out, you really have to do the 2 bucket method.
Let it dry
Then as MF said, recharge with bar oil and blot out any excess.
I have about 6 or so of these now and always use 25:1 - you get better protection and even with full synthetic oil at 40:1 there is no smoke difference.
They always smoke a bit - especially the later models with the compression release slot (like yours). Probably poor port scavenging.
