I once owned a 1937 B GP. I bought it for $400 from a guy and he said it started and ran good, which it did. Below zero it took very little effort to get it running. Then for some long forgotten reason I had to pull the head and was just sick. You should have seen the pits in the cylinders. That tractor had really been stuck at some point in time and I was sick about it. Then reality hit me! Hey the darn thing runs and starts like a dream why worry about it. Stuck it back together and ran it until someone stopped and bought it from me for twice what I paid for it. No Noises and not oil usage. If they are minor pits or even potholes like mine just run it. Just look at the big pits (ports) in the cylinder walls of any 2 cycle engine! You probably won't put 50 hours on it in the next 10 years.
Oh yah, enjoy the 2 cylinder sound. I fell in love with it the first time I heard it. I'd probably still have one it they had had a foot clutch.