Well I have it running great now but as some of you predicted, it doesn't seem to be generating any current. I tried to "flash" it will a small electric drill but that didn't seem to do anything. I think the main circuit breaker may be tripped but I can't seem to reset it. It's a push-button type so it just lightly returns to the position shown below once you remove your finger. There is no clicking and although I am not 100% it is in the "tripped" position I believe this may be the case.
Carb was hideous on the inside with 25 years for gas to revert to dinosaur tar. 3 sessions in the ultrasonic cleaner just to get the brass jet out. Selected parts were then soaked in lacquer thinner and cleaned with a scotch bright wheel on a die grinder. Still have some corrosion in the bowl but iI think it will be okay. Air filter looked pristine until I touched it and watched the foam sleeve crumble to dust and disappear into the wind.
I replaced the fuel lines and relocated the fuel filter to a place where I can see it as was located underneath of large cover plate over the engine.
Motor tuned over by hand nicely but I put a bit of 2-stoke oil in the spark plug hole and gave her a few good pulls before I put the plug back in.
As found
After a lot of cleaning
Took about 2 hours to drain a 1/2 gallon of old fuel from the tank. Had to constantly probe the elbow with a zip tie to keep fuel flowing. Luckily tank is plastic and looks pretty good once I rinsed it with fresh gas.
What are the chances that this type of elbow screws in and can be easily replaced?
So she seems to be running nicely now although I can't test the auto throttle which I'm guessing is probably controlled by current draw.
Thanks for the advice everyone. Now just to get to her to make some electricity.