Well, there were a ton of little things to take care of on this bike. The first was the leaky petcock. Gasoline ran all over the place when I first got the bike running.
I picked up the petcock rebuild kit from bike bandit for about $25. It was a pretty easy install, but there was one gasket that seals the bottom most cover that has the nipple for the fuel line. I didn't remove it to see exactly what was under it for fear that I might tear the old one and be completely SOL.
The rubber washers that go on the M5 or M6 screws that hold the petcock to the tank were rock hard, but i didn't have any replacements, so I went with an O-ring that was just right to seal the gap between the petcock and the screw.
Here are some hi-res pictures if you are about to do the same project:













