Thanks all. Having read what everyone wrote and knowing what I know about the engine (bought Nov. of '13 when it ran and ran well) I thought I'd see if this was just rust from condensation from the very hard and wet winter during which the engine sat on a tire in an unheated garage. So before I took a wrench to it I took a rag. Here it is after:
http://i.imgur.com/IAdAWL3.jpgNothing came off in chunks and there was no solid debris anywhere in there.
Now, what do I need to oil before the cover goes back on and what sort of oil is correct?
And yes, I'll open the oil holes on the rocker.
