I'm back with a report and only one bloody knuckle. As always there is good news and bad news. The choke idle advancement cam system was not adjusted correctly and therefore not functioning contributing to cold starting difficulties.
The carbs were not synchronized well, even by bench standards.
The insides of the carbs seemed extremely clean (must be all that seafoam i run through them). That's not to say that I didn't dislodge some gunk from somewhere in the idle circuit but i certainly didn't see any gunk and all the jets were squeaky clean.
When i put the carbs back on it fired right up on full choke, I backed the choke off to half after about 10 seconds, and totally off choke after another minute and it idles near perfect at about 1200 rpm. The cold blooded / idle problem seems to have been solved!!
The BAD:
A leaky float bowl. I figured it was likely that i had pinched a bowl gasket, so i removed the bowl while the carbs were still installed and refitted. I've always had trouble getting the bowl screws tight enough with the carbs installed so overtightening wasn't really on my mind and I stripped a bowl screw hole.
So the carbs need to come off again.

I've done some research and it appears that others have drilled out the offending hole with a 11/64 bit and tapped for a m5 x 16 screw. Can anyone confirm this info or advise about this procedure. I've never tapped before.
Again, I'm working on a 78 CB550K with PD carbs.
It always seems for me that working on my bike consists of trading one problem for another.......
It sure does run nice now though.......
-mark