From the Terry Branch article. I know, this is dark ages data... But still interesting
60.3 cfm with round top carb, no intake valve, stock port
71.7 cfm with 32 Mikuni carb, no intake valve, stock port
77.3 cfm with v stack entry, no carb, no intake valve, stock port
58.7 cfm with round top carb, factory stock intake port/valve
73.4 cfm @.450 with round top carb, modified port and stock 32mm valve
81.5 cfm @.450 with 32 Mikuni carb, modified port and stock 32mm valve
105.6 cfm with v stack entry, no carb, no intake valve after port porting
So, if the ported bare intake port (still only for a stock 32mm valve) of an early k head minus the intake valve itself yields 105.6cfm, that certainly supports the notion that a well ported intake port, even the smaller k intake port, flows far more air than the can get past the intake valve, leaving the intake valve/seat being the main restriction. Naturally the carb, even a larger carb, is only going to flow so much so that is also likely to be far more restrictive than a well ported intake port in total cfm capability.
Which brings me back to enlarging the intake further than 34mm as a possiblity.
George