have a look at the decompression unit if that is not operating properly then it wont lower the compression enough so it wont start.I had this on my bike,when i rebuilt her i didn't want the original automatic decompression unit so i converted her to a manual one and sometime even now she wont start until i push on the lever.As your sitting on the bike its under the tank on the left hand side if you didn`t know.Hope this helps and good luck.
Cheers Sparkie

!!! I"m running again!  

Took it to a guy from my hometown. Turns out to be a real silly problem. I've noticed for a while that my air filter was dirty. Last time I checked was a few months ago (big mistake) When I looked at it then, I noticed the wire mesh was torn at some places. At the time it didn't occur to me that anything could happen. Anyways-long story short- A part of the mesh had lodged itself by one of the valves, keep it open (or closed I forgot). Took that out, and walla!

Thanks for the input guys. Can always count on ya'll for support in whatever way

Cheers,
Roger