My dad had an 83 or 84. He did the top end oiling kit as a preventive measure.
I had heard that the ones that really had cam problems were the ones that lived on the Autobahn. Although, a friend of my dad, had a V65 Sabre that had the cam oiling problem. Myself, having ridden it a few times can comment on a few things. They aren't powerful enough to do "power wheelies" in 2nd. Not even close. 1st gear, maybe on the right day, even then. What they do have, is a real flabby suspension. You may feel like you are popping a wheelie, but you are just topping out the forks. Undersprung, and underdamped on both ends. You can put some air in the forks, maybe change to a heavier fork oil. Heck, I'd see if RaceTech makes a cartridge emulator for it. Better aftermarket shocks would be nice if you want to spend the money. They have all of the nasty habits that shaft drive bikes were known for in the past.
The flabby suspension only amplifies the shaft drive's torque reactions. You will have to be fairly smooth with the throttle in the corners, or the bike will move about disconcertingly, and drag things unexpectedly. This is with the suspnsion settings on full couch mode, the way my dad likes it. Power wise? A friend of mine had one{83} for a short while. At the drag strip he was turning low 12's, at about 110 mph. That isn't horrible. You could give a V-Rod Harley a bit of a hard time. I wouldn't go hunting for anything more muscular than that, to pick on. My dad was feeling his oats with his, and I put him in his place with my then new, and absolutely stock 86 GSXR750. Rolling on from the bottom of 1st gear, it was all over before I hit the redline{yes, I was pulling away}. The killer for him, was high gear roll ons from 50 mph. Sixth on the Magna is an overdrive. The gixxer would pull away, albeit slowly. Letting my dad drop to 5th gear, while I stayed in 6th, only delayed the point that the gixxer would pull away.
I'm not trying to be mean. Just, ahhh, brutally honest. Should you buy one? If that is what you like, of course. Fix it up, dial it in to your tastes, ride the heck out of it. It should give you many miles and many smiles. I think my dad put well over 60,000 miles on his himself, and he bought his used. With many years gone by, I don't know if any year of the Magna, would have an advantage over any other. I would be looking closely at the kind of life the old thing has been living, more than anything. Oh, and I still have my old gixxer. Time stands still for no motorcycle.
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