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If you find a good set let me know. I'm in need of replacing 40 year old gaskets after i finish cleaning these carbs and get this bike to run.

Gasket set was ordered from Storm Motor which is finnish moto parts company. They will deliver needed set in 14 days (not sure if takes longer).
Piston rings are ebay purchase from Germany.
Luckily we found used water pump cover from Finland, with a reasonable price tag. Old one leaks and will break when removed.
Cylinders are at the shop (honing) right now.

After almost full overhaul with cylinder honing, piston rings, replaced miscallenous bearings, new full gasket set, water pump housing, new dfi and ignition boxes, two new intake valves ( bent in cylinders one and six) and new TPS, adjustable fuel regulator and some other things aside, it runs but it runs terribly rich. You know some black/blue smoke and your eyes burn. Fuel pressure drops down to under one kilo when bike runs and it really does not hold the pressure after pump primes fuel line when key is turned on. Maybe leaking still.

Tuomas wrote: After almost full overhaul with cylinder honing, piston rings, replaced miscallenous bearings, new full gasket set, water pump housing, new dfi and ignition boxes, two new intake valves ( bent in cylinders one and six) and new TPS, adjustable fuel regulator and some other things aside, it runs but it runs terribly rich. You know some black/blue smoke and your eyes burn. Fuel pressure drops down to under one kilo when bike runs and it really does not hold the pressure after pump primes fuel line when key is turned on. Maybe leaking still.

Your persistence is starting to pay off finally. !! Glad to see you are making progress.

I suspect the injectors are sticking and leaking when the engine is shut off. If the injector needles are not fully closing as they should, It would account for your rich mixture. If the fuel pressure is dropping to 1 kilogram (2.2 lbs) when running, either the fuel pump is not flowing enough or the fuel filter is plugged or the regulator is stuck open. Lots of things to look in to. But at least it's running so there's a lot of things that can be checked off of the list.
Carry on and let us know how you are making out please.
Cheers,
KB

The motor has been almost completely overhauled now with new piston rings, seals, remanufactured and adjusted injectors and so on. We finally found out that the main culprit for severe misfiring, sputtering and smoking was after all, throttle position sensor. Probably original one broke down and after replacing it we adjusted it to wrong position. It it very important to assemble it to exactly right position (if I remember correctly it should measure 5.2 volts between two terminals when idling), otherwise bike will not run right.

Glad to read that you've been able to sort this issue out, following your post I know its been a real head scratcher