So this is where I am at:
1. Clean carb and put back together.
2. New condensor to be purchased and installed. Should I look at doing the coil and points too? This is as new to me as the carb. Should be interesting.
3. To find out if that hole is supposed to be in the choke plunger side of the carb body or not and if not, plug it up with a washer and some epoxy.
4. Check magneto side for leak. I might already have my answer there.
Lots to do.