Especially with the hotcam, I think the motors are kind of noisy, mine even ticks some. Valves may need to be adjusted. That's pretty simple.
It sounds to me like the carb needs to be cleaned. I would check the oil filter for metal shavings, some issues with the cranks in the 05's.
$3000 sounds pretty good, especially if you have the extra cash to freshen everything up, I would do new rings and piston, at least adjust valves maybe replace them if you have the cash. Then enjoy.