Welcome Rich. Yes, it can be an indication of a lean condition. A 3k tune up & carb sync would probably be advised, check the plugs & carbs (for jet size, clip position, etc) vs stock. Are the headers/pipes/muffs original? Honda used mostly double wall headers, so it's not as common to blue as easily as some aftermarket stuff (or golden like stainless does) or like Brit bikes do.