Thanks Scott, yeah that's exactly the conclusion I was coming to...Petronix, and run the gen till it craps out, whenever that is, and decide what to do with it then.
I have a feeling that the cylinder heads may have been rebuilt at one time, because someone would have had to update the valves for unleaded fuel, right? It doesnt burn a drop of oil, and don't leak much either. The bottom end however...yeah, the crank bearings let me know how worn they are every time I start it.