H50 rebuild

#1
Hi, i picked up an H50 and a lighting coil for my 68 Rupp. Serial number starts with a 1. Im going to rebuild it. Im down to removing the valves. I want a good strong running engine. My friend has a machine shop, "if he has time" he will do the machine work. Im going to need a new carb and exhaust, and the correct fly wheel for the lighting coil. I have all new gaskets, and new rings. I still need seals and valve springs, and an air cleaner, and linkage. Any recommedations would be great for the following:

What to use to clean the inside and strip the paint off the engine?
What flywheel should i use for the lighting coil?
Any info on making a harness and terminating the lighting coil?
Not to go crazy, but any good modifications , or leave it stock?
Should i get a stock oem carb and air cleaner?
Any recommendations on exhaust?
Any help or ideas would be great.
 
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