Compression coming out of the left carb

[4overbanshee]

Before you tear it apart, do a leakdown test. You never know what some hacktard that built the motor did. If it passes leakdown, then replace your reeds and do a leakdown test to make sure your reed gaskets aren't leaking.

I am leaking some oil out the front so I will need to tear into it anyways.

Since you've worked on auto engines for some time......reed "valves" on a 2 stroke are the literal comparison to valves in a 4 stroke motor.  Different is.....they are a spring loaded flap......its intent is to let air/fuel pull the reed open using vacuum to suck the air/fuel charge in....and on a 2 stroke since there is exhaust back-pressure/reverb.....when the pressure comes back due to the exhaust.....the reeds are meant to snap shut and be held shut by the pressure. 

That makes complete sense.

Knowing little about 2-strokes my first thought was a valve train issue (bent valve or broken spring).  Thanks for that comparison, helps me understand the problem a lot better before I dive into fixing it.

The only other 2-strokes that I've owned have been outboard motors and those have thankfully always ran great for me.

[Starwriter]

Oil leaking out the front is probably just a leaking O ring at the exhaust connection to the cylinder. Messy, but not a big deal. You really need to do these things before you "tear into it".

1. Leakdown test

2. Buy Clymer manual

3. Read through this.  http://bansheehq.com/forums/index.php?showtopic=140912