he did confirm that regular tune specs were correct but the compression is low as well as a low vaccuum reading. This leads us to believe that the low compression is causing the bike to run rich.
You are not thinking this through properly.
Do the carbs supply fuel when the engine isn't running or the crankshaft turning?
Ans: No, because there is no negative pressure (vacuum) applied to the carb throats from the engine cylinders.
The vacuum level applied, and the air speed at the venturi are what determines the fuel flow rate through the metering jets. There is no other means to move the fuel (besides gravity). No pumps or other positive displacement mechanisms for the fuel exist in the carbs.
Therefore, low vacuum is not responsible for rich mixtures.
As mentioned previously, the bike has low miles ( 2500) and sat in a garage since 1977.
With the crankshaft and cam stationary, some of the valves are closed and a few are open. Cylinder walls and valve seats don't normally corrode if the valves are closed. But it is guaranteed that some of the valves will be open to all the humidity (water) that is in the atmosphere. This makes the iron based components in the cylinder rust, with severity related to the conditions encountered.
Piston rings will scrape away the surface rust pretty quickly. The rust can jam in the piston ring grooves, freezing the ring to the piston and ruining ring to cylinder seal. Rust and or the pits in the metal it creates can make an uneven surface on both cylinder walls and the valve/seat interfaces. The conditions will be the worst immediately after returning the engine to service.
Note, it is very unlikely for rust to be the same severity for all 4 cylinders. Some will be noticeably worse than others.
So, how bad is it? Are the cylinder wall pits too deep to ever seal again? Will the valve seats wear to a sealing state? Will frozen rings in pistons ever free and make a good seal again.
Two ways to tell.
One - Take it all apart and examine/measure the cylinder walls and all the other mechanical bits inside, replace anything out of spec. and return to service.
Two - Run it for a hundred miles with a thin oil (like 10W-40) to see if the parts will wear in again and seal. Compression will go up on recoverable cylinders and get worse on those that aren't recoverable. Don't be afraid of some power spurts to pound the rings loose. If all cylinders improve and are within 10% of each other, change the oil again and ride it some more.
If worse on one or more cylinders, the same parts you would have replaced on the take-it-apart method will need to be replaced now.
Which method sounds better to you?
Cheers,