Okay, time to fix this beast. Battery was dead so I bump started it. The throttle adjust was set too tight (it revved higher if I turned the bars), so I backed that out. Anyways, after warming it up, it sat around 3000rpm idle (much too high) and would fluctuate up and down (I've posted a video). After riding her around town, parking her, then starting back up, she idles at 7000rpm! I drove it home immediately (with many people giving me dirty looks as the bike noisily lurched around). There's also fluid leaking near the front (posted a picture). I also mixed some Sea Foam additive in the gas. Questions:

What should I look at first to address the idle issue?

What coolant do these bikes take?

Video of cold idle: http://www.youtube.com/watch?v=OvJSUBz0QDE

Fluid leaking from here somewhere:

 

Found the idle adjust and backed it way out. Idles around 1300 +/- 100rpm now. Haven't taken it for a ride yet though. So we'll see if it spikes after being driven. Still sounds a bit rough. Gonna' let the Sea Foam work it's way through. I'm pretty sure it's just a gunked up idle circuit for the most part.