when i got the bike it had no air filters. bought the wrong ones first time but right ones second time around. i have wondered about the jetting but have no idea how to go about it. i only just learned where the air screws (for lack of a better term) are. i haven't messed with them. but it does have lack of power and it does need new plugs. 1 and 2 won't fire sometimes and i can take the plug wire off and hold it right above the plug and it'll start firing again. it has a slight oil leak but its sporadic. sometimes it does sometimes it doesn't. i haven't taken the carbs off or done any work other than to buy the arts it was initially missing, throttle cables, ignition switch, air pods, battery, with it needs a new one already i think. so it does need work but i see so much potential in the bike i don't mind working on it. and its a plus that i only paid $200 for a mostly running bike.
First thing I'd do before anything is get, if you haven't already, a workshop manual. You can download it somewhere on this forum.
Have you done a tune up on this bike yet? Valve clearance, cam chain adjustment, proper plugs with correct gaps, point gaps and timing? That along with an oil and filter change should be some of the FIRST things done and that could fix a lot of problems with performance right there.
These bikes don't come from factory with pod air filters. They have an airbox with a single filter that's under the seat. What did the PO do to the bike regarding intake and exhaust? Post a couple pictures of the bike. Any idea if he/she re-jetted? Pods aren't a plug and play addition unfortunately. It's less restrictive than the stock airbox so it'll lean out your mixture. You'll then need to put larger jets and change other carb settings to get it to run better but it's a little difficult to make it work. Do a search for airbox vs pods on the forum, grab a bag of popcorn and read them through. I especially recommend anything written by the user TwoTired. The man really knows what he's talking about, especially about these air induction systems.
Do you like the pods or do you not care? Going a cafe route or keeping it factory? If you don't care about pods I'd recommend getting the intake system back to stock. It'll make the bike perform better and be much more predictable. Also replacing the single filter is cheaper than replacing all 4 pods.
$200 is a great deal even if it's a basket case. Well done. But seriously, post some pictures. We always like to see more bikes. Never gets old in my opinion.
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1978 Honda CB550K