() Function names must have brackets.
:name Lables must not begin with a colon. In P1 a colon is used at the beginning of temporary labels, in P2 it's a period.
|| Absolute Value; p 156.                                                          ABS
>| Encode long into magnitude (0 - 32) as high-bit priority; p 160.                ENCOD
|< Decode value (modulus of 32; 0-31) into single-high-bit long; p 160
          DECOD
~>=     ~> --or-- ~>= Bitwise: Shift arithmetic right; p 158.                      x SAR= 1
                      x ~>= 1                     'get root exponent
                      X := X ~> 1
| --or-- |= Bitwise: OR; p 165  Short form of X := X | $F
                      result |= root equals result := result | root
** --or-- **= Multiply and return upper 32 bits (signed); p 153                  if (z scas z) > m
                       returns the upper 32 bits of the 64-bit result.
                       SCA (unsigned) and SCAS (signed)
                       SCAS here because the P1 doesn't do unsigned multiplying or dividing.
<-=  <- --or-- <-= Bitwise: Rotate left; p 162                                      ROL
~ Sign-extend from bit 7 (~X) or post-clear to 0 (X~); p 156. Y := ~X + 25
   data := data <- 8                   ' puts the 8MSB to the 8LSB
   data := ~data                       ' extend sign
   data := data SIGNX 7                ' for P2

Changed =< and => to <= and >= 

PAR use ptra via coginit

CNT use getct() or waitms()

jmpret in P1 has no equivalent in P2. Can be difficult to translate. One solution:
   transmit                jmpret  txcode,rxcode         'run chunk of rx code, then return
   translates to:
   transmit                mov     txcode,#transmit_ret
                           jmp     rxcode
   transmit_ret            mov     t1,par                'check for head <> tail
           
Replace:
   _clkmode      = xtal1 + pll16x
   _xinfreq      = 5_000_000
With:
  CLK_FREQ = 200_000_000                                        ' system freq as a constant
  MS_001   = CLK_FREQ / 1_000                                   ' ticks in 1ms
  US_001   = CLK_FREQ / 1_000_000                               ' ticks in 1us

Neither Spin1 or Spin2 support default/optional function parameters but FastSpin does.

pub null()

  ' This is not a top-level object


D:\Arduino\GY-85\ADXL345ObjectDemo-All-SPIN2\
C:\flexgui-413\kgsamples\PNut1-ILI9341\
D:\PASM\pilot0315 P2 PASM TUTORIAL part 1.pdf (see page 21)
https://www.parallax.com/sites/default/files/downloads/AN014-Coroutines-v1.0.pdf
\\kgwin7\D Drive WIN 10\PASM\JonnyMac-CHANGES-P1toP2.txt
https://github.com/totalspectrum/spin2cpp/blob/master/doc/spin.md