Guys, im starting to think there's something to this overheating theory, and wonder if it could explain everything I'm observing. This occurred to me when I was redoing compression tests today with a new Mityvac compression gauge I got - I didn't trust the cheap ones I was using. First I did a cold test and got L 190, R 200, so that doesn't really make any sense at all, but not important to this story. After that, for good measure, I increased the exhaust valve clearance by .002", total of .006". Rode around for 30 mins, idle started drooping and stumbling as usual. Then I did a hot compression test. In the middle of the test I heard a "pfff" noise and realized the o-ring that seals the adapter at the spark plug hole had blown out.
The reading got to 172 and wouldn't go higher. Ive observed that pfff noise with the other cheap gauges I used. So now I'm thinking the reason why the hot comp tests are lower than the cold tests is because the heat is softening/expanding the o-ring and it blows out, giving me inaccurate low readings. I wonder if excessive heat is causing this, and could also explain how the hose itself melted/blew off the adapter on the cheap gauge i was using yesterday.
Just looking at the symptoms - idle struggling, smoke out the breather tube, gas bubbling in the lines and tank, this could all just be simply overheating huh? The question is why is it overheating... its certainly not tight valves, they are currently both .002" over spec and click clacking so loud its comical. Checked oil and its right between the 2 lines. The plugs look on the lean side to me, so maybe bigger mains could be worth a shot. I think the 4into1 rebuild kit I got comes with one size up of each.
So anyway thats a thought. Its probably a simpler explanation than the rings not seating. I'll get an IR thermometer and verify temps.
Also I checked the pipes for blockage, used a snake camera, all clear.