For 2-3 when i put the clamp on wire 2 the light stopped functioning when testing advance. When i put it on 3 the light functioned just fine, with the same results as 1-4. What does this mean?
Nothing serious. When using a timinglight there is polarity to be observed. On the pick-up clamp it probably says
THIS SIDE TOWARDS PLUG. Well, with our bikes this is only true for one of the two as respectively 1& 4 and 2&3 form a circuit. So if the strobe doesn't flash or intermittently, flip the clamp and you'll find it works fine. Or you could move the clamp to the other HTlead of the two, from 1 to 4 or from 2 to 3 respectively. And close the clamp well.
Furthermore the HTleads should be clean (no grease, no dirt) or the timinglight will malfunction. If needed you can use a little alcohol to clean.
BTW, be careful with that clamp. It is fragile. On many of them you will read
DO NOT DROP. Not only that, when dangling avoid it shocks against the frame or engine.
The bike idles like a champ with basically no spitback or popping. The second i give it any throttle it almost dies however. I am really lost at this point and feeling hopeless. I dont know where to go from here
. Mechanic?
I'm not a fan of setting idle by plug chops. What I know of the CB500/550 is that it needs a relatively rich idle to enable good pick up and driveability whilst accelerating. But yours is a 750.