My question might seem a bit negative, but it isn't - I'm genuinely interested in exploring the background to this project, and the motivation. So.....
Why are you doing all this? The question arises because its obviously a lot easier (and probably cheaper) just to buy a faster bike. So obviously there is some other motivation behind it - maybe some "kudos" from having the fastest 350 Bullet on the block? (Yes, I know it'll be a 400 really.)
I have definitely answered this already but still, won't take up lot of calories writing it again. It might be bit easier but definitely not cheaper just to buy a faster bike. I have answered it already that why I am doing it because I always wanted to do it. Do what? Always wanted to push the performance of the 350 to the max I can within the resources and budget available at my disposal. Again answered already but still answering, a project like this is already been done, tried and tested, have been ridden 50k kms. So not doing something which will fail. I have always been passionate about doing the performance mods on my bike but not just limited to carburetor and filter. And lastly above all, it just gives me so much happiness to do it on my bike. And yes the pride of having the fastest 350 Bullet on the block, you are right. Hope you get the answer now.
Why did I post the update? Just because if someone happen to search similar things it would be much easier to find it. When I will put up the dedicated thread I will shell out lot of other information which I kept searching only to not get any answer.