List,
I have four original Lister engines all of which are now over 50 years old.
They were purchased via ebay, and often in a fairly rough condition. They will be rebuilt using Indian parts wherever necessary.
Not one of them had a compression change over valve that had become siezed with carbon deposits.
The valve is designed to leak in mid position. That is one way in which you can decompress the engine if it ever started to run away.
The most common fault amongst the CS engines I have encountered, is frost damage.
I have seen cracked cylinders and leaking heads. I saw one on Friday that was leaking from its swirl chamber into the water jacket. I saw this when I turned it over and saw a conveniet bit of spider's cob-web blowing in and out of the upper coolant outlet.
Other problems include worn valve stem guides, pitted valve stems and carbon build-up around the exhaust valve.
I have seen engines with worn main bearings and pitted cylinder bores.
There is nothing here that cannot be fixed economically by using spare parts from India. This is one thing good that has come from Globalisation. Mechanical parts can be imported at a fraction of the cost of the original spares.
Ken