No oil on dipstick...think I might have left that one in his yard, instead of taking it home with me..
I take it that you found standing oil in the cylinder before you had it running...had it been stored or not run for an extended period of time before you bought it? I wonder if someone just squirted some oil in the cylinder to keep things from rusting together while it sat idle.
If cylinder and/or rings where in that bad a shape, you never would have gotten it to start or run.
Before buying a lot of engine parts, I would fix the fuel and vac lines, as you stated...(that in itself could fix a lack of power)..and see how it goes. Give the engine a good cleaning, then maybe you can determine where the oil is coming from.
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