Pulled the left carb and cleaned everything. Pulled the petcock and it had rust in it again! So we pulled the tank emptied the gas into a clear container. The rust floating in the gas helped us determine that our tank had let go a few additional treasures. So we flushed the tank with water again and dried everything out. Then I ran down to the gas station to buy a gallon of clean gas.
After putting everything back together and resetting the carbs to the stock 1-1/4 turns on the air/fuel setting (the small screw on the lower left of the carb) and the throttle screw to 2-1/2. She fired right up and I rode it down to the gas station for a fill-up. I left the gas station and made a bonzai run down the main road hitting 65 with crisp throttle response all the way through the power band came up to the stop light and she idled at about 2K. I think we have a winner. I still have a little wobble in the front-end so I might just send it over to Sam's Cycle shop to have them true the front wheel.