Here's what I did:
0) valve adjustment: CHECK! Starts up very easy now, more power. Still super lean though.
NEXT: checking the carbs as a possible reason for leanness and high idle:
1) main jets were already WAY bigger than stock, float levels are perfectly in spec at 22.4mm +/- 1mm.
2) the rubber intake manifolds between the carbs and head were shot, they had mega-cracks like crazy, I bought new ones, will install when I reinstall the carbs.
3) has electronic ignition, timing/spark is fine.
SO...... since the carbs are still off the bike (I was checking float height and jetting etc.) I'm inspecting them for any blatant source of unwanted air getting in -- and I found two large nipples, one is between carbs #1 and #2. The other nipple is between carbs #3 and #4. See the pictures. Could these nipples, since I found them like in the photos -- wide open -- be allowing unwanted air into the carbs?
Here are photos I took of these two nipples that I found pointing upward between carbs 1&2 and 3&4. By the way -- the hose with the bolt in the end with a tiewrap is the vacuum line to the petcock -- the prior owner put a non-stock petcock on that is not vacuum actuated:
NIPPLE BETWEEN CARBS 1 AND 2 (ignore the TV dude there)
CARBS 3 and 4 NIPPLE:
ALL 4 CARBS
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