I have never actually ridden the bike. Picked it up fairly cheap about a month ago as a project that (I hope) is getting pretty close to a finish. Odometer shows 51K miles. So far I have:
--Changed oil, with new oil and air filter
--Cleaned and rebuilt carb
--Adjusted the valves
--Replaced shocks
--Got a nearly new HD Dyna muffler for it
And of course a lot of cosmetic work, painted all the tin, new mirrors, footpegs.
The compression is a little lower than ideal, but not at the service limit yet, so a top end will likely be the next thing... maybe a good time to go with a big bore upgrade
As far as how much I would ride it, just to town, local, that sort of thing. Short hops, maybe 25 to 50 miles.