Here's the update. Dropped the bowls on the carbs to look for issues and found none.
Replaced plug cap #3 w/new just for fun. Checked for spark on all four - good.
Checked the spark advancer, just in case, it's lubed and in good shape.
Have fuel, have spark, have air.
Started it this afternoon after going through all these things - ran like gold. UNTIL, went to wind it out a little, suddenly - in what felt (as a rider) as a flooding out, I lost power. Limped it home and now 3 & 4 are cold - only on the muffler - headers are warm because there is spark. (checked again for spark to make sure - grounded to the head, etc.).
So, as of 15 minutes ago, I have a bike that ran fine for about 20 minutes, then lost 2 cylinders. I didn't see any gunk in the carb bowls, but my tank is not pristine. I do have a sock filter inside the tank. It could use a cleaning. Again, the bowls, jets, etc. looked good on initial inspection.
As far as I can tell I looked at everything I've done lately - new plugs, new points and condensers, cleaning the jets. I haven't gone back to the work I did replacing the rocker cover a while back, but that could be an issue (?)
At this point, I guess I'm looking for ideas.
Again, we have fuel, air, and spark - but it's weird it would be on 3 & 4 - 1 & 2 are fine. To clarify, I am aware that 1 & 4 run on one coil; 2 & 3 on the other - (L side = 2&3, R = 1&4 - whatever - longer ones go to 1 & 4). My plug wires are actually numbered so I didn't exchange those by accident.
Checked gap on the plugs, what I haven't done is check my points again after the problem.
I'm an idiot, and willing to admit my mistakes - do I have the points/condensers hooked up wrong ? (see pic above)
P.s. - Valves?