Motorcycle Repair: 1989 yamaha xt350, metal shavings, yamaha xt350

Question
while cleaning out my grandmothers barn i came across a 1989 yamaha xt350.  it turned out that my cousin had abandoned it there some ten years ago.  he still has the title and said that he remembers a loud knocking, a severe loss of power and metal in the oil.  i've always done the basic maintenance on my motorcycles and power equipment but left the truly interior stuff to the pro's. i figured this bike being relatively basic in engine design would be a good learning project for the upcoming winter.  any advice on where to start with the diagnosis of the engine problem?  or should i just let this one r.i.p. thanks in advance

Answer
Joel,

If it turns over, I suggest a compression check first,
this will give you an indication of
the condition of the top end of the engine.
Add a couple of squirts of oil in the spark plug
hole beforehand and see if the engine will turn.

-if it was knocking, it could be a seized or
damaged piston assy or possibly a rod bearing
went out or seized.

-after all those years it is probably
going to have to be totally torn apart
and everything checked out, cleaned, replaced
or rebuilt. At least pull the top end
of the engine off and see if you can see the
problem. The engine will need to be
thoroughly washed out if a piston
has blown out and put metal shavings in the bottom.

-it may depend on cost if you decide to fix it up.
A crank and rod rebuild won't be cheap.
Get a shop manual and things will go smoother.