Here the air deflector that directs air separately to the cylinders and cylinder head has broken from terrible welds done by the previous 'restorer' and fallen down to form a perfect blockage to all cooling air to the cylinders!
Both pistons displayed similar damage on the side corresponding to the squish area of the in-head combustion chambers, where pieces of piston ring smashed into the pistons and head repeatedly before finally escaping through the valves and into the muffler.
Corresponding damage to the head, with many fragments of piston ring still embedded in the aluminium.
The pistons. Total meltdown due to the lack of cooling air, and then subsequent piston ring failure, causing damage to pistons and cylinder head.
Details of the subsequent repairs and rebuild can be seen here.