Topic: 1978 CB550k simply will not run!

[Low-Four]

Hey, I'm at my breaking point, so any help would be appreciated. Thanks in advance.
Here's the problem:
I have a '78 CB550k that was in great running condition up until a few months ago. One day, mid-ride, it simply powered down for no apparent reason. I was called out of the country shortly thereafter and haven't had a chance to work on it until now. It's sat for a while, but when I made time to get to it I started with the basics: new fuses, gas, plugs, re-charged battery. It would turn over and run for a minute, but would refuse to idle and as I quickly discovered was only running on the 1st and 4th cylinder. So I did the obvious, checked the coils. Great, turns out I wasn't getting a spark on 2 and 3 so I bought a replacement coil and cleaned off all the leads and connectors and started over. With the new coil in place the bike started on 1, 2, and 4, but still not on 3 and it still refused to idle and even when I managed to kick it over after several kicks (great compression--I even went through the carbs and cleaned the floats, put in new jets and air cleaners) and get it running, it only ran for a minute or two.
Then today it just seems to have given up the ghost. I stopped seeing a spark at the points, so I set the points and the timing which fixed the spark problem, but still...though the bike continues to kick and turn over freely, it WILL NOT RUN.
There's fuel and air getting to the carbs, there's adequate compression, and to the best of my knowledge there's a spark.
But nothing else. I believe I've traced through the electrical system as much as I'm able, and the starter seems to work (though I'm not entirely sure) and the coils appear to function.
I'm at the brink of a complete breakdown and my only other option would be to bring it into a shop, which I'd hoped to avoid.
Any advice would be hugely appreciated. And if you're in the San Francisco area I can pay with beers.
Thanks!

[TwoTired]

Where in the San Francisco area?
I'm in Milpitas.

[bryanj]

I go for blocked pilot jets which are a push fit

[HondaMan]

It sounds like burned points or a bad condensor. The tip: the way the coils are acting.

[Low-Four]

Hey Two Tired, I'm in the city, which is a long haul from Milpitas just to get paid in beers. But thanks tons for the offer of help and if I ever get well and truly stuck on something I'll be sure to have a couple of twelvers on hand if you can make it out.
HondaMan, you know, I hadn't even thought to check the condensors. I took them off today and, yep, just like you thought, they were fried. I trudged over to the local parts shop and got two new ones for $20 and popped them in and it jumped to life on the first kick. Thanks so much for the suggestion! I was completely at the end of my rope.
But now a new problem is presenting itself: the idle. It's idling really, really high and I can't seem to adjust it. I've got the screw virtually all the way out and it's still revving way too high. Could this have something to do with the new jets I put in?
Again, thanks so much for the help folks.

[1timduke]

Definitely need a carb sync if you haven't done one.   A bench sync will get you close, but it sounds as if the throttle slides may be way off (too high), or possibly wrong jets fitted.   If the throttle slide is too high you can run the adjuster thumbscrew all the way out and still have a high idle.

-Tim