OK, compression great, intake and exhaust valves were VERY tight so adjusted both (what a PITA to get at the exhaust valves).
Fresh oil/filter. Fresh coolant. Checked fuel level in bowl with clear tubing and it was a little low but not real confident of this method.
Bike would not start unassisted. Choke had no effect. Squirt of starter fluid and bike fired right up and after a minute would idle without throttle but at near stall conditions (RPM of 200). Excessive popping on deceleration and exhaust manifold got very red very fast. While running I turned the air needle out (CCW) 1 turn (4 total turns from seat) and bike immediately ran better. All signs pointing to an excessively lean mixture?
Now that the bike is in my heated garage I will tear the carbs out once again and this time be more careful of the float setting and give it a better cleaning.
For the record it did snow here on Thanksgiving day, but it has stopped!
Here is a picture for those of us who skip right thru the articles.