I have a1974 cb550 She starts ok but idles at around 2700-3000 rpms,
This is not idle. Idle would be 1000 RPM. This is running on the throttle valves in the slides instead of the slow jets. Which, in your case are likely plugged up with debris. The lack of throttle response also supports the plugged slow jet diagnosis.
However, this is only the most major problem. A dirty air filter tells me you haven't performed a tuneup, which these bikes are supposed to get every 3000 miles or 3 Mos. Dirty air filter can also make the spark plugs carbon foul and stop sparking. Check your head pipes for even heat cylinder to cylinder. I use the "flash touch" method.
The tool kit that comes with the bike has almost all the tools needed to get your bike going again. A timing light can be made from a 12 v bulb and jumper wires with alligator clips. Just add a set of feeler gauges, and you should be on your way.
It is possible to remove and clean your slow jets while the carbs are still on the bike. You will need a correct length #2 cross point screwdriver to reach the bowl screws, and a pliers to remove the hose clamps. A flat blade screwdriver for the bowl drain screws and slow jet removal, and, some spray carb cleaner.
You can download a Shop Manual from this site (somewhere).
The fuel petcock has sediment bowl. Unscrew that an examine the contents. The slow jets are the smallest orifice in each carb, about 0.016 diameter. Anything in the fuel larger than this size can block the slow jets.
Cheers,