I've got a -78 GS750 with a bit over 40000 miles on it. I just got it few weeks ago and noticed it is losing some oil. There are no leaks on it so it must be burning it.
Later I noticed black spots on my garage floor(like from spray can) under the right exhaust (don't know the cylinder numbers...) - the two water drains under the pipe were puffing oil when the bike was running cold. After it gets warm it stops - probably cause oil starts to vaporize aswell.
I don't know anything about the service history - but I bet it has been taken care of because I'm the second owner. I'm not very familliar on the bike engines but first I'd suspect piston rings? Second - I really don't know when the valves has been adjusted. The bike runs well and it starts quite easily - although I have to use choke to get it started. But I'm not an expert as this is my first bike.
The bike has now gone to winter storage so I have no access to it. When the spring comes I should do:
#1. Don't care and just drive and add oil
#2. Adjust the valves
#3. Replace the piston rings
#4. Something other I haven't thought of?

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