Well guys I couldn't take it anymore and took the bike to Jeff at Minigunz today. First off let me say that Jeff was the one I wanted to build the motor in the first place. He had done a great job on my younger son 88cc for his z50 that I want him to build my older sons ct70. After not being able to get ahold of Jeff for several weeks I had PRC build the engine. We put the bike up on the hoist and there were so many things wrong with the engine I don't think anyone could have found all the problems without seeing the engine. Among them were, condenser not soldered in right, worn out timing chain, chain adjuster missing a spring and ground down with what looked like a belt sander. O-rings missing behind stator plate, flywheel LIGHTENED and had lost almost all of it's magnetism, to name a few. After fixing most of the problems ( glad I brought 2 extra engines for parts) Jeff adjusted to points and the bike started right up. We then adjusted the carb which was actually very close thanks to racerx's help. So after about 1 1/2 hrs my son got to ride his bike for the first time.
I can't stress enough how important it is to find out all you can about the engine you want to build and the people you want to have build it. I had read alot of good things about PRC on other web sites but most of it turned out to be wrong in my dealings. If you can't find someone you trust and hopefully close to home I would strongly suggest you build it yourself. I am by no means a motorclcle mechanic, but I do know my way around V8's and VW's, and I am sure I could have built an engine of better quality than what I got. What I received and what I paid for were light years apart.
I can highly recommend Jeff at Minigunz, it is nice to see someone that takes pride in their product and stands behind it. After spending a few hours with Jeff I learned far more than the money I paid to have the bike fixed.
On a side note after coming home I started my z50k1 with what I learned a minigunz, so I really got 2 bikes fixed for the price of one. I'd like to thank all of you that offered suggestions on my bike, but I really don't think anyone could have solved all the problems with this engine without seeing it in person.
Thanks Mike