Hi Stinkwheel. If your new to these engines, they can trick you with what's detonation vs valve train rattle. Especially if you come from other makes like Japanese models etc.
My Iron Barrel gets a valve train rattle up at a certain rpm then goes away. Every gear, doesn't matter what load. It's more profound since it has Samrat Alloy rocker boxes and a alloy barrel. The noise resonates through the less denser material than the standard Iron Barrel.
There's a bit of a valve train clatter around 1500rpm and then around 3500rpm on my bike. You soon learn what "Enfield" noises vs detonation is. Haha.
Which at first I thought was detonation and like you tried to tune it out.
From the looks of your plug you're still very rich.
These Mikuni TM carbs are a little more sensitive to changes. More of a race bread carburetor than a set and forget type.
Before you get carried away and possibly chasing your tail.
Firstly make sure your ignition timing is spot on. There's plenty of publications and steps how to do it correctly. If it's not right, these things won't run great at all. The detonation zone I found is around 2800 to 3200 on these main if you have short shifted it and have it a bit loaded up.
If it is detonating around that area. I mark on the housing where the set point is with a fine line permanent marker. Then retard the timing a whisker at a time until the plinking is acceptable and only present when you "force it". IE a fistfull under load around 2800 rpm.
Next would be start off back to basics. Make sure your float height is correct.
Then go back to basics and start from the beginning.
The correct procedure is as follows.
#1 Set the pilot
#2 Set you Main
#3 Then fine tune your needle last.
Pilot circuit.
Your pilot jet should be around 20, 22.5, 25, 27.5. Possibly 30 but that's getting a bit rich and TM flat slides meter very well at slow air/vacuum speeds.
Its usually 22.5, 25 to 27.5 in most cases.
Set your air mixture screw 1- 1/2 turns out.
Get it running. Warmed up to operating temperature.
Set the tick over/idle slow so if your turn the idle screw out 1/8 of a turn it will stall.
Start by winding the air mixture screw out 1/4 of a turn and count to 10 listening if the idle improves or lack of improvement.
Example. It's slowly ticking over and you've started at 1.5 turns out. You turn it out (more air leaner) 1/4, wait... Turn it again 1/4 and hear the Idle improve by 250rpm. That's 2 turns out. That would be set.
If turned in (richer) by x2 1/4 turns to 1 turn out in total. Means the pilot jet is on the smaller side, you're taking away the air for it to run.
Rule of thumb you want between 1 and 3 turns out with the correct pilot jet with the idle at its healthiest (idle increasing ever so slightly from the slow tick over).
Each pilot jet change affects the whole throttle range since its always open. That's why its important to get it sorted first.
If the airscrew is less than 1 turn out, Pilot jet is too small you need to go up a size.
More than 3 turns out its too rich, you need to go smaller.
Another method is set the idle about 250rpm higher than you would usually. Use the same above method with the air mixture screw. Record where the mixture ends up and compare your results from both methods.
The high idle method isn't as accurate since the carburetor is starting to pull from the needle/needle jet circuit.
Once happy set your idle back where you want it. I set so it has good throttle response and no idle "hang".
The pilot and needle are really important to get right on these bikes because you spend most of your throttle openings there. Since the throttle is still sitting on the straight section of the taper around 1/3 throttle.
I'd start with the jetting MR_84 has suggested. Since his motor is closer to yours. The 6DH4 is the suggested correct needle taper for a 500 single 4 stroke engine. Taken from Mikuni's jetting database.
Start with
25 Pilot
P4 Needle
6DH4 needle. 2nd clip position down from the top.
210 main (But have a 190, 200 and 220 on standby)
Get your Pilot set, then main with plug chops. Then on to the needle. But that should give you a base.
Good luck!
Ben