The points area has had a bit of damp in there. It is possible that the points don't move properly if stuck on the posts and, possible some of the wire connections are not good now. So, it would all come up OK with cleaning and a light dose of maintenance spray. The screws don't look to have been touched. A good plan would be new points and that full clean and re-do all the electrical contacts. On a similar note, there are several things that really should be checked/changed. Safety-wise, tyres and tubes renewed, brake pads and hoses replaced and new fluid with Mastercylinder and caliper overhaul unless in great condition. Then, there are the FULL Yamaha service checks, plugs, points gaps and timing, air filter, oil change, grease headstock, swingarm and wheelbearings, lube cables etc. Carbs should really come off and be checked inside for corrosion or incorrect parts. Also, I would suggest renewing the chain and sprockets as the chain can suffer just standing in a bit of damp or, if battery acid vapour has got it.
BTW, engine oil should be 10w-30 with JASO MA2 standard, to prevent clutch slip.
Overall, this is quite a lot of work but, it should provide a safe rebuilt bike. You cannot count on just cleaning it and riding.
Yes, post work on the 250 and above Tech questions or, in the Restoration topic.
Cheers
5port