Thanks for replying! Well, what was giving me a hint that it was running hot was it was actually during the exhaust pipe blue coming out of the motor. The motor idles at 1000 RPM with the choke off. Also, once the bike is back together I'll check the idle adjustment.
The problem may have just reared it's ugly head. I was riding it yesterday, noticing it didn't have any power past 5000 RPM, it would just bog, but if you stayed consistent with it in the throttle it was fine. On my way return ride home (about a mile from my home) it started losing power. I started backing down through the gears, and it lost power all together. I turned the key off to give it a quick go through before trying anything again, and I turned the key back on and hit the button, it just clinked. The lights were bright as can be so the battery had enough butt (I think), so I was pushing the rest of the way home. My Dad realized I was gone for too long and helped me push up the final hill.
He coasted it down the hill and popped the clutch and it started, but it still was not right. It sounded as if it was only running on two cylinders and the cams were chattering. It had no power. It wasn't even putting hardly any charge to the battery, so badly that the headlight was hardly lit and the tail light wasn't lit at all. My Dad was worried about the cams making that much racket, so we started off by pulling the plugs, they all looked good. We checked that there was blue spark to all four cylinders, we had spark. We pulled the cam cover off and everything was good and tight and where it needed to be. Even the timing chain was adjusted to where it needed to be. The top end was spotless, no dings or scratches or anything. All the lobes were on the cams.
Alittle more detail about the bike though. I bought it, and it wasn't running right, so I put half a can of seafoam in the gas. Changed the plugs (the Autolite equivalent to NGK), put a newer set of CDI igniter units on it with the hard backing. That helped it out to atleast run and keep running, although it still had small pops alittle out of the exhaust when running and after about 5 minutes the idle would go high. So yesterday I finally did drain the tank, there was about 2 gallons of old fuel still in the bike and put 5 gallons Cam2 (aka Turbo Blue, leaded fuel) hoping that would help it out. Obviously not, if finally gave up. I want to learn how to do this stuff myself, but I know when I get it back together I am just going to take it to a mechanic. A mechanic wanted $150 to clean and sync the carbs. This is getting way too expensive and frustrating.
Sorry for the lengthliness.