So what have I bought?

With everything spread out on the lawn the next morning, I could properly evaluate what I had bought. 

Well, first of all - the cafe racer conversion. The frame rails had been cut off just behind the rear suspension mounts - highlighted yellow below. The frame should extend here for another 6-8" to pick up the rear mudguard and seat mounting. 

The other main alterations had been that the original seat and rear light had been removed and the original rear mudguard cut down and a custom light/number plate mounting added, together with the quite nasty "cafe racer" seat. Loosely assembled it looked something like this:

But then turning to the positives, as I ferreted through the boxes and bags of bits and pieces, there was lots of good news:

• The frame has been powder coated and it looks like a decent job, albeit I'm not sure about the colour. But it should form a good solid base to rub down and spray black.
• The wheels have been powder coated and, again, look good. They have also been fitted with a new set of Avon tyres, which look to have done maybe 2-300 miles at most.
• There is a new set of YSS rear shock absorbers.
• There is a new pair of Dellorto carburettors and these are the bigger 28mm carbs, as fitted to the following, slightly higher powered, Monza model.
• The exhaust downpipes look to be in good condition and just need painting. There is a pair of generic aftermarket megaphone exhausts, in almost new condition. These might be a bit loud but I think they have removable baffles, which should be able to be wrapped in quilt to quiten it down if necessary.
• There is a good quality electronic ignition kit which should address one of the known weak points of the Mk II engine.
• There is a mysterious black box of digital tricks called a "moto-gadget". Upon further investigation, this appears to be a very cool thing which takes over the function of fuses and relays in the electrical system and can also be programmed to provide modern things such as using the indicators as marker lights; brake light as a pulsed light; and an integral alarm system. The Guzzi electrical system is a known weak point and although the wiring loom looks like a proper rat's nest at present, this should allow for relatively simple rewiring.
• A new starter motor has been fitted.
• Two new fuel taps.
• The linked front/rear braking system has been decoupled (this could be seen as good or bad depending on your viewpoint) and new braided brake lines installed.
• There was a new set of Renthal handlebars and various new items such as headlight, speedometer with integral warning lights, clutch lever, front brake lever and master cylinder etc

I couldn't find much that was obviously missing - indicators, handlebar controls (but I may have been looking to replace them anyway - see comment above about Guzzi electrical system being a known weak point.) plus the rear mudguard, light and seat as mentioned above.

I felt pretty good after that assessment - it looks like the most challenging thing will be to reinstate the back end of the frame. Unfortunately, even though there was a spare frame with the bike, the previous owner had done quite a lot of modifying of that, including adding a seat loop to the rear and removing quite a few of the brackets, so it's not very much use to me.