G'Day Larry, I'm not a 550 guy, so bear with me. I'm presuming that your cables aren't sticking, and you haven't adjusted them so tight that they're lifting your slides? It's best to loosen them right off while you're trouble shooting, then just tighten them (with the engine running) to get the slack out without having them affect the idle speed.
Are the rubber adapters between the carbs and head cracked and perished, could they be sucking air? If they are, this will cause your engine to over-rev, for sure. with the engine running, spray some WD40 on them, if the idle suddenly drops, there's your problem. The more I think about it though, the more I think it might be your cable adjustment. Try loosening them off and let us know if it made a difference? Cheers, Terry.
