Hi,
I believe you'll find that "engine protection" is baked into the CDI cake and can't be overridden or deleted.
In the true, grand, CLICK N CLACK repair method you could just unplug the warning horn and put some electrical tape over the lamp.
Too old ? Maybe. It depends. Is it a real beater or a well maintained, high hour good looker?
FIRST...
...let me say....
....I have never touched one of these. I'm just kicking the idea around with you.
Overhaul? These engines weren't really made to be overhauled in the traditional sense because the engine block can't be machined oversize.
But ballparkin' it....
....IF...
....IF...you were going to do the work yourself...
... parts money layout for an "overhaul" might look something like:
New cam and head assy-
$1k .
New oil pump-
$250
New rod, main and thrust bearings-
$350
New piston rings-
$220
Balancer shaft cases and end bearings--
$400
Gasket set-
$400
Miscellaneous components & materials-
$250
Grand total GUESSTIMATION for the BASICS-
$3 to $4k
First thing might be to cut open the oil filter and see what amount of metal is in there. Then pull the rocker cover and check under the cam caps to see what running on low oil pressure has done.
If there's a bunch of metal in the filter or lots of scoring at the cam journals, that would discourage me from even considering going forward.
But let's say that you get past that. You then need to pull the head and assess the cylinder walls because a new engine block is another $2k +.
So, you might be looking at a bunch of work and over $6k in New parts.
But....how much does a new one cost?