Simon,
First, DON'T GIVE UP! The bike you ultimately have in top running order will be even more precious when you know more of its nooks, crannies and idiosyncracies, having done the upcoming work. Sounds like a marriage, almost, so don't let your wife read this. Anyway, very sorry to hear that the joy of riding must end for a while while the joy of repair and rebuilding takes its place.
Dave's advice about looking in the primary case is great and, hopefully it ends there. However, I think I must tell you that the failure you've described sounds an awful lot like that which I experienced after doing the first rebuild on my engine following 24 years of setting untouched (the bike, not me). That was a full top and bottom-end rebuild, except I was ignorant of the sludge trap in the crankshaft and did not clean it out. After running very nicely for somewhere under 100 miles, there was suddenly a clonking and engine stoppage. The engine was not frozen and I was able to get it restarted and clonked my way home (about 1-1/2 miles). To make a long story a bit shorter, the left-side rod bearing had burned partially away. I don't think it siezed and spun, because the rods didn't show that kind of damage. I hope I am wrong (as I so often am) but it sounds to me like one or both of your rod journals may have been starved of oil for any one of the many reasons that have been described in this forum. Without trying to recite a herd of them, I notice, having gone back through your posts, that there was a bunch of red silicone used on your timing cover at one time, that's just one of the possibilities.
Good luck, keep us posted and picted.
Richard L.