The specs sound great, 9.1:1 is a tiny bit low on the compression, but that sounds like a great motor especially at that price. There are a lot of good parts in there.
It's definitely a street motor. It appears to be full-flowed. I wouldn't use those crimped hoses for oil, I'd use AN8 instead. I'd have an external filter, an oil thermostat and external cooler. And those stainless steel breather lines look small. You want at least 1/2" ID.
I don't personally get the magneto, no need for that on the street.
If the deck height is 0.040", the compression should be 9.6:1. I'd re-shim the cylinders to give 0.040" deck. I just built a 2276 with 9.6:1 and 58cc chambers, deck height is 0.045".