So far I have resolved to the fact that I'll have to pull the carbs again.
I think that's a good call.
2) Are they CV carbs. I kinda doubt it but I need to confirm.
A quick glance at the bike will answer that.
CV carbs have a very round 2-3 inch diameter inverted cup siting right on top of each carb, that houses a large vacuum piston inside. Otherwise, you'll find a simpler cover plate on non-CV carbs.
BTW: It does smoke at low speeds, even when warm.
Color of the smoke would be a problem area indicator. White "smoke" is likely condensation turning to steam a the pipe/muffler heats up. Depending on outside air temperature (OAT) and humidty conditions, this is very normal to see. And, it takes a good long while to completely convert all the water at cold outside temps. 20 minutes on the freeway should do it, if the OAT is above 40-50 F. It can take much longer to stop the steam cloud sitting in your driveway, and you would probably overheat the air cooled cylinders in the process.
If the color has a blue tint, then that indicates oil ingress. This could be from piston rings, or valve guides, valve guide seals, or oil in your fuel. The bluer the tint the more severe the oil ingress. I get the impression that you haven't ridden the bike much due the idle issue. If you have, then the higher than normal engine temps that result from a lean mixture, have impacted the fit of the various parts which could allow more oil creepage into the cylinders. In either case, deffer addressing a perceived oil burn issue, till after you get the carbs operating properly. Frequent use, and or normal operating temps just might make any oil tint simply stop.
If the smoke is black, that indicates unburned hydrocarbons, resulting from a too rich mixture, or poor combustion.
The IMS is your Idle Mixture Screw (Watch for a small spring, washer, and oring behind it. (These are wannabe escape artists looking for an opportunity to practice their secondary vocation. Be warned.)
Is this the same as a "pilot screw" referenced in the books?
If so, does it regulate air flow or fuel flow?
Yes, pilot screw is another term for that part.
You gave a trick question, as on your carbs, the IMS actually meters both air AND fuel. It does, however, behave as a fuel metering screw.
The carb's slow system is provided fuel from the metering jet (Slow, pilot, or idle; reference terms) and from the air jet at the carb entrance. When you get your slow jet pulled you will see a small tube on the blind side with cross drilled holes. This mixes air with the fuel from the jet and creates a froth. The small tube is called an emulsion tube and your mains circuit has one, too, only bigger. Anyway, the frothed fuel then travels down a carb passageway to a mixture screw which controls overall flow of the froth delivery to the exit hole in the carb throat, where it is mixed with even more air traveling past the slides (or throttle valve).
(For readers that have earlier style carbs, your carbs have the same type of slow circuit, except that instead of adjusting the total froth flow, your Idle Air Bleed screw is positioned in the path between air jet and the fuel jet emulsion tube, and meters the amount of air that can get to the emulsion tube or the ratio of air in the froth.)
Cheers,