You don't use a timing light. You do however need to view the timing mark through the hole in the side cover, so figure out how to remove that bolt. Get the manual. It is a free download. It isn't hard, but you need to pay attention to some details. The book will walk you through aligning everything so that the cam timing is correct.
Pay careful attention when installing the cylinder head cover. You use Hondabond sealant (or equivalent, do NOT use RTV gasket maker) between the head and the cylinder head cover. Check the manual since you have to be careful in the area around the cam bearings. If you get too much sealant too close to those areas, you will cause trouble. The book shows you exactly where to put it, and where not to put it.
Carb jetting over the internet is difficult at best. Treat any info you get here as a starting point, but be sure to read up on reading your spark plugs to know which way to go from there.
I think 101 octane is overkill. Premium pump gas would probably be ok. Mixing 50/50 race gas with premium would give you peace of mind. I don't think there is any need to go full race fuel with a 12:1 in an ATV. There are performance motorcycles out there at 12:1 from the factory that call for premium, nothing more. Run as low as you can without spark knock. If it were me, I'd start with premium (92 octane) and see how that runs.
- Frank
1984 200ES Big Red
1985 350X (x2)
1986 350X
1986 250SX
1984 Auto-X
1984 ATC70
1985 ATC70