Thanks for your responses. Don't know what I will do with it yet.

 

OK. So it's been a year.

I've been thinking about this from time to time trying to figure out what I had missed. In May I decided to check all the electrical components. All components were in spec with the exception of one of the primary coils , that was 1.5 ohms too high. Still no luck. Yesterday I pulled the carbs again, checked the jets, the rubber diaphragms, just to make sure everything was OK. Everything was OK. I had removed the Cali emissions components so I had to make sure that all the ports were blocked off properly. Decided to check the timing ( again ). Could not see the mark. Wanted to to see the non adjustable sprocket on the pulse generator just to see how it was non adjustable. I removed the pulse generator cover, removed the sprocket, saw why it was non adjustable, dumped out the oil, wiped of the contacts on the pulse generator and put it all back together. Bike runs like a champ now!!!! So, the question is..... what?

Is the pulse generator about to die? I did check that when checking electrical components and the readings were in spec. Is my spark unit about to die? I don't have the tool to check the spark unit. The manual troubleshooting steps point directly at those two components. As far as I know, new ones don't exist, so if either one takes a dump then I'm stuck with dicey used ones off of Ebay. Thoughts anyone?

Strange how checking the pulse generator with a meter from the spark unit yielded nothing, but taking it off and putting it back on made it work all of a sudden.

Oh yes! The Harbor freight compression tester was a piece of crap. I compared readings with that tester versus one I got from NAPA on my jet ski. World of difference. Have not checked compression on the bike but I'm sure they are no where as low as I posted earlier.

On a different note now that it runs again, I've considered getting a timing sprocket off of any non California emissions bike ( because their timing is slightly retarded ), just to see if I can get more poop out of the bike.

 

Have you checked float height? Mine was low when I bought it used and it would run first gear to redline, but after that it wouldn't even cruise in any gear without it feeling like it was hitting the reserve tank, running out of gas.

Also, it ran fine at high altitude, I-70 crossing the Rockies, Denver, Utah, etc. Basically, it was less due to low flat height.

After raising the float level it ran great at all elevations.