Here is the backstory:
I just got my bike together and running after a 8 month rebuild. The bike ran when I bought it, so the rebuild mainly focused on the rolling chassis and cosmetics (all new bearings, bushings, seals, brake and wheel rebuild, rewired, paint, etc). The only modifications to the motor would be swapping out the stock 4-4 for a Motogpworks 4-1 exhaust system.
I cleaned and rebuilt my carbs with kits that I bought from 750 supply which contained #100 and #120 main jets. Since the carbs were equipped with #110 main jets with the 4-4 system, I used the #120s and kept the needle clip in the same position as before, which is the stock (middle) position. I also adjusted tappet clearance, tensioned cam chain, cleaned and adjusted point gap, and installed new plugs (not sure of heat range). I synced the carbs with a manometer and adjusted the air screws to ~ 3/4 turns from fully seated (1/4 richer than spec, but within the documented tolerance). The only thing I did not do was time the bike, either statically or with a gun.
The bike didn't like to stay idling at the 850-950 RPM range, so I set it to 1000-1100, but other than that it was pretty responsive with no noticeable missing. I rode the bike around my neighborhood for 30 minutes with no real problem.
The next day I took the bike across town for a 20 min ride on surface streets. It was a around 80 degrees and traffic was pretty normal. I did stop for a train, but it wasn't that long, maybe 5 minutes tops. The bike hunted a bit at 1/4 to mid throttle, but it was not uncontrollable. It also stumbled slightly if i snapped the throttle from idle in neutral. From what I have read, these are both signs of a lean air/fuel mixture. The symptoms however, seemed pretty mild, and I figured it wasn't anything a little further tweaking couldn't solve once I got home.
After arriving at my destination I shut the bike down for ~10 minutes, then started back for home. It idled for maybe 3-4 minutes before I got back on the road, but once I started out my oil light came on. I shut the bike down within 30 seconds of seeing the light and let the bike cool for about 10 minutes. I got back on the bike, but the light came on again a few miles down the road. This time I let it cool for 25 minutes and attempted to limp it over to my brother's house which was only a few miles away. I shut down the bike at every light, but it started acting really funky (lurching on take off and losing power). I shut down immediately and hauled the bike home.
There were no loud bangs at the time of the incident and the bike starts now, but it idles extremely rough and blubbers and misses badly when I twist the throttle. I am currently out of town, but I'm trying to form a game plan for sorting this out, hopefully one that does not involve tearing apart the motor.
My questions are these:
What, besides a lean mixture, would cause overheating in standard operating conditions?
Incorrect ignition timing? (Wouldn't that have made it a bear to tune initially?)
Insufficient lubrication? (I didn't hear any ticking or other metallic sounds)
Bad seal on intake boots?
What, besides seizing the motor, are the residual effects of overheating the motor that would cause it to run so poorly once it has sufficiently cooled?
Could have it been knocked (further) out of time?
Affected the sync?
Any tips on the order of operations for trouble shooting?
Should I re-jet to #125 or #130, or should I drop the needle clip a notch first, or both?
Thanks in advance.