Your symptom is clearly that of a rich mixture.
I would have bet money on it being too rich, too, but it continued to foul even after I dropped the needles a notch. Also, it had huge flat spots and hesitated horribly with it dropped. I put them back to the stock position, and it runs much better... but fouls just the same. Weird.
Oh, and I did exactly what you said for adjusting the floats. I even have the "official" Honda float tool... whee. I even
replaced the floats because they were looking a bit raggedy.
I felt a bit psychotic this weekend, so I dropped in the one-step-hotter plugs, and it seemed to foul a bit slower, but still fouled. Runs maybe slightly smoother at idle.
I also switched from 91 octane to 87, and did not notice any difference in fouling, performance or sound.
I am going to triple check my timing again soon, and re-sync the carbs just for fun.
(current state is: stock jet, hotter plug, new floats (carefully adjusted), 87 octane.)
I'll post again after I recheck the timing. Thanks for the tips.