1) I have 4 little hoses coming off of Bottom of Carb nipples...What do I do with those.
As Bob said, these bundle together and drape over the rear of the engine. There is a bracket machined into the rear case of the engine that these tubes insert into to hold them in place.
2) I know fuel tank has a loose Hose...is that for overflow right
Correct, it is for overflow. It routes back and connects with a longer tube at the rear of the tank, just in front of the battery box. Often this second, longer tube has gone missing over the years but yours may still be there.
3) What is the DEVICE connected at bottom of Oil Bag...is it for oil drainage and such...what's the correct hose path of those tubes (It has several valves openings)
I assume you're talking about the Pollution Control device mounted to the bottom of the battery box and behind the oil tank. Most people leave this disconnected. If you wish to "spare the air" and reconnect it I believe the routing is... Cam breather to top nipple,connect rubber line from middle nipple to top of airbox, bottom nipple is for drain tube. Foam catch filter inside PC device.
Not clear which wires your talking about and where they are on the bike.