Not fully sure about the camshaft issue (could possibly be slightly off time?), but ignoring that for a moment...
Next time you try the 'run', maybe pop open the fuel tank's gas cap first, to see if it is just a fuel restriction issue. This happens sometimes when the vent in the fuel cap is rusted shut, or partly shut.
If the cam is an early-open one (intake opens more than 7 degrees BTC) then you may find that the mainjets are too rich. If it is working OK between idle and 2000 RPM then it's not terribly likely to be timing related, but to test this you can first retard the timing slightly (3 or 4 degrees) and try it. In the 550, it is slightly easier to adjust the slide needles than the mainjets, and they adjust approximately 1% per notch position in their slides. So, for example, if you have #100 mainjets and the needles are now in the middle notch, dropping them 1 notch will simulate a #99 jet until about 3/4 throttle, at which point it reverts to acting more like #100 again.