Thanks to all the good information on this list, I've rebuilt my 2001 220R moneypit and the thing runs! I took it out to Carnegie (CA) last weekend and the thing kicks ass!
Yes, I'm an idiot for buying this used POS in the first place, but once in my garage I knew I needed to save it. Here's what's been done:
Wiseco Piston & Small end bearing
RB Head Mod
Replate cylinder (Millenium)
RB Carb Mod
KIPS Rebuild
Boyeson Power Reeds
FMF Desert Pipe
Unitrac Bearings
Swingarm Bearings
Wheel Bearings
Steering Stem Bearings
Clutch Cable
Throttle Cable
New Pro-taper Bars
Skid Plate
Brake Fluid Flush F&R
Chain & Sprockets
New Air Filter
.43 Fork Springs
New Fork Oil
Removed two fork compression shims
Cleaned 5 years of grime and crap from every nook and cranny.
Still to be done:
Have Shock rebuilt
Install KX250 front end (needs to be overhauled first)
Stop riding like a pu$$y.