I suspected a bad valve and ran a compression check, sure enough, it 20 lbs lower in that cylinder, the clearence's have been adjusted to spec, before I adjusted the valves, they were all slightly tight, I needed to add about .001 on each valve. They must have seated and were never adjusted, the bike only has 5k miles on it.
So I think the exhaust valve is the issue, the exhaust pipe is also slightly discolored on that side. I tried adding some marvel mystery to the gas and crank case, at idle, there is no backfire, its only above 1500 RPM
Any thoughts on what to do? My CB750 had that issue on one cylinder because some carbon broke loose, but it corrected itself.