Hi, thanks for answering.
It does run but there are two main issues. The first one is apparently combustion gases are getting into the coolant system. We replaced the piston and rings and after remounting the head and putting on a new water pump we bled the coolant lines. Or tried to. Jacked up as high as we could and bled with the bleeder screw and got all the air out, so we thought, and buttoned it up. Ran a few minutes and it appeared the coolant wasn't circulating: no warmth in the hose going toward the radiator. It would get warm a little just from convection in the hose. We bled again and got tons of steam/air out the bleeder screw. This process was repeated multiple times, each time we thought all the air was out, we found more had got in and came out as steam. We did get some circulation at one point: warmth in both hoses, but it didn't last. With radiator cap off it will run and heat up and of course start pushing coolant out the cap but only for a short time and then it stop bubbling over. Eventually the engine heat light comes on and we shut it down.
Brad (neighbor) started tearing it down to check gaskets again, even though he had had the head off before and replaced them. He had checked it for warping, etc., back then. While checking the water pump again he noticed the shaft had a lot of play in it and when he pulled it, it came all the way out. This is also the oil pump shaft and the circlip and roll pin that should have held it in place in the oil pump were missing, apparently fallen down inside the case. He said it would take a special brand-specific tool that he doesn't have to get the case halves apart. He thinks the oil pump is just splashing enough to keep it going but we have no idea how long it's been that way. The previous owner only ran it around the neighborhood and it never ran right for him so he didn't do much maintenance with it. He moved away and it went with the property and the new owner took it to the local ATV shop and they didn't know what to do with the brand so the owner just gave it to me for plowing his driveway all winter. But free isn't free, so I'm hunting for an engine. I have 7 Craigslist posts out and about 4 different forum posts.... Not hopeful.
Thanks again.
Rick