Ok, I found the piston and cylinder scored. I replaced those. The bearing rod had virtually no play and turning the engine produced no noise so it seems that a top end rebuild should do the trick.
As I attempt to start it again, on the main kickstand (rear wheel in air) I have an electrical issue. When the battery is connected, the "met-in" latch light goes on as normal. The gauges move when I turn the key- normal also. But when I press the button, I only hear a click coming from the battery area, somewhere just to the right, and the whole dashboard dies/lights go out. Only when I disconnect then reconnect the battery, it lights up again.
I have no taillights, muffler, rear brake pads, or air filter installed yet, if that matters. Is there some breaker being tripped?