Today I ran the bike for maybe twenty minutes in all at about 40 mph and on return home, still a slight amount of black smoke, indicating that it isn't oil being misplaced before startup. Odd thing is that when I adjust the mixture screw all the way in, it still runs fine, only again with the slight smudge.The idling itself is smooth, and I can reduce it down to just a slow thump, so it isn't getting too much fuel, but just isn't getting quite enough air, so it isn't burning the fuel it gets efficiently (too rich in the fuel/air mixture). The air input at idle normally isn't enough (according to the Dell'Orto manual) to give a lean enough mixture, so there is a small orifice that supplies air at idle, even before the main jet is opened. I would have thought that screwing the mixture screw all the way in would have cut off, or at least down, the fuel supplied, but for some reason that isn't the case. I'm wondering if enlarging the air orifice just a tad might increase the air flow enough.Easy enough to do because there is a plug in the float chamber, and when you remove the plug, you can see light coming in from the small opening in the main air channel itself. Kind of scary to do that, but I can't see that it would do any harm, especially if I did the drilling out in small steps, testing between each drill out.
The dense air here (high humidity) might also have an effect such that a carburetor designed for dryer conditions might need a larger air orifice with denser air. Or maybe some slight condensation occurs which occludes the air passage with beads of water (vapor lock). But I would have thought that in Italy, home of the Dell'Orto, some places would have high humidity along with heat.
I'm also wondering if the small channel leading from the air opening to the gas mixture chamber might be occluded, possibly by the water and rust particles in the carb initially (it was stored for six years and had water in the bottom of the fuel tank). I'm not sure how to open that chamber up if there is some particulate matter in there. It wouldn't be a varnish which could be removed using varnish thinner, but what else would dissolve it without harming the metal in the carb. Maybe a vinegar solution and flushing. I can blow through it with seemingly no restriction, but that doesn't assure me of no occlusion. Just cutting down the size of the mixing chamber might be enough to throw off the balance, even though the pathways seem to be open.
Apparently the idle circuit and the main throttle circuit work together until about quarter throttle, and throttle response is so good, I'm thinking that going down in idle jet size wouldn't be good.
One interesting thing I've come to realize is that it may not be such a good thing to have a tank reserve in that it would be rarely that any water settling in the bottom of the tank would be drained out. I suppose now that they are coating the inside of the tank with something, this isn't a problem, but I could see that if enough water from condensation or other sources got in there, it could cause some problems, especially as fuel levels got low and some mixing of gas and water occurred. due to vibration.