I know that un-synched carbs on our 4's can make a motor sound like it's coming apart. Couple that with cam chain adjustment issues, valve adjustments, etc., and our motors sound like crap. Fix those issues and the motor sounds great.
That bike ...well....have fun. In addition to stuff already mentioned, I think they took a '77 head and put it on the '76 case. That's fine, it should work, but there's lots of other stuff going on. Is it a U.S. model ?