my next step???

I have a '00 XR650L supermoto. I got it recently with about 16,000 miles on it. It's been taken care of at times, abused others. The engine is starting to burn a little. I haven't put any $ into it yet. So far it needs a new exhaust (starting to rust, corroding in places), sprockets, and maybe gaskets for the engine? I'm no mechanic...here's my question: is it worth buying a used motor in much better condition, or should I just trust ol' red and fix her up when she needs it? Thanks in advance for your thoughts.

I'd fix what you have. A good mechanic can have it running just like new for a few $$$$ although Honda parts seem to be more expensive....

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