Hi Paul,
You have got the procedure down. I would recommend paying attention to how much air pressure you use to dry it all out...
Normally 50-75 lbs of pressure will clear everything out of the channels and groves, and not cause any damage to metal edges or seals that may remain in place.
While you have the top end opened up, here are a few things to keep your eyes open for...
Top of the piston- excessive carbon build up, or signs of scratches or uneven wear on the cylinder wall.
Head- check for any warping by laying a known good straightedge on the mating surface. Be sure to check all four compass points, north to south and east to west. Also check the points in between, like northeast to southwest, northwest to southeast.
If there is any variance, this would be the time to mill the surface just enough to remove the irregularities.
If you do need to do any milling, keep it to a minimum, since you don't want the valves hitting the top of the piston.
You should also check for any bent pushrods, or worn out rocker arms. (I don't remember which ones are used on your motor)
Since you have found shavings, I would also check the piston rings. The best way to do this is via a compression check before you remove the head. And then once again after you have cleaned everything up.
And whatever you do, make sure to use a new head gasket when putting it all back together. You can even check the head bolts for warping by using that good straightedge along the bolt body in a couple of spots.
If you plan on keeping your Big Bear, you might want to spend a few and get a repair manual for it. You can get one by following this link, and it will be able to answer any future questions you might have...
http://www.atv-411.com/yamaha-atv-repair-manual-7.html
Hope this helps, let us know how it all turns out...
Ride Safe. Ride Legal. Ride Again... Curtis