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Thankfully, the bearings and seals were the only bottom-end parts we needed. The clutch was in surprisingly decent shape, as was the transmission. The bottom end wasn't as tight as that of a new bike, of course, but it wasn't junk by any means. Another nice surprise was that other than the melted wiring, the electrics worked fine.

Here's the list of all replacement items:

Part Source* Price**
1977 IT250 U $45
Air box S $25
Front wheel S $35
Reed boot S $10
Air filter NOS $17
Fork boot A $30
Kickstarter seal NOS $5
Shift shaft seal NOS $5
Crank seal set NOS $20
Crank bearings NOS $25
Throttle cable A $12
Front brake cable A $13
Throttle assembly A $12
Brake lever A $7
Rear sprocket A $12
Front brake shoes A $16
Rear brake shoes A $26
Rear wheel bearings A $10
Front wheel bearings A $8
Front tube A $8
Grips A $6
Handlebars A $17
Kill switch A $10
Clutch lever A $7
Chain tensioner U $25
Rear tube A $8
Front tire A $35
Rear tire A $40
Carburetor S $45
Seat cover material A $8
Front fender U $8
Rear fender U $12
Headlight U $15
Skid plate S $15
Clutch cable NOS $17
Total project cost   $609
     
*S = salvaged like part (off 1977 YZ250 or IT400, for example). A = aftermarket. U = used OEM. NOS = new old stock. **Rounded to nearest whole dollar.    

While we did exceed our rough $450 guideline by about $100, paying less than a grand for any well-running dirt bike is a decent deal. While there always is a better deal out there -- and there certainly are less time-consuming ones -- we consider this a success.

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