
I fitted a pattern Gold Star silencer to my 450MKIII and couldn't persuade it to rev out, there was also blueing where the baffle was welded to the inside of the silencer. Even after enlarging the hole in the baffle, using a 1.5" crowbar, it still choked the engine from reving out.
Eldert makes good observations and as appears to be common with the later end of production runs, Ducati/Mototrans were building "Bitsas" using frames and cycle parts from Italy, whilst the engines were being assembled by Mototrans with a combination of parts from Ducati and Mototrans manufacture. Check the timing idler gear, in case it's a plastic one, as they become brittle and break up. You may also find either a Ducati Electronnica, or Motoplat alternator, rather than the magneto that I earlier suggested in my transcription from Mick Walker's book.
My experience with the Motoplat alternator in a late 350 MKIII engine was that all the insulation on the cables coming from the stator was rotten, the copper core was blackened and corroded and the resin encapsulating the stator coils was cracked. I threw my whole Motoplat system into the scrap yard and replaced it with an Electrex set up. However, if you wish to retain the Motoplat set up, UK-Motoplat are the people to speak to, as they are able to completely refurbish these units. I have posted the link below:
UK-Motoplat
I hope that you are able to enjoy the beastie once you have received it.
Good health, Bill