I have a petcock on my bike with three positions: ON, RES, OFF. I have very little experience with these things, but it seems like you put it to ON and when it starts to sputter, you put it to RES and head to a gas station. The PO told me when you finish riding to turn it to OFF so the carbs don't get flooded sitting there. I forgot to do this one day and when I started a bunch of gas came out of those nipples underneath the tank/seat (I assume that is why you keep it OFF).
However, not being used to having a petcock, I go out to my bike and merrily kick start it and head off down the road. A few minutes later, the bike comes sputtering to a halt and there I am kicking it like an idiot until I realize the petcock is OFF. I have done this twice so far.
I don't understand how the bike can run with the fuel off. Is it just the gas left in the lines or what?