Motorcycle Repair: 78 Honda Hobbit, reed valves, reed valve

Question
Sorry to bother you with a question about Honda's smallest step child, but we have a 78 hobbit which seems to run well except that it seems to have only about half-2/3 the power that it had only weeks ago.  It almost feels like the throttle is not opening fully (though it does). We've trying dumping a teaspoon of gas into the intake at 15 MPH with some loss of power occurring.  We also had a stuck float bowl about 6 weeks ago and finally took the carb apart and got everything running again.  My son has also fooled around with the richness jet and we no longer know exactly where it should be set.  He tried opening and closing it by half turn increments and running down the same stretch of road but the adjustments didnt seem to have any effect.  Could this problem be tied to a reed valve (did this bike have reed valves?), or have you got other ideas about what the cause might be.

many thanks for your willingness to help out.
Lee

Answer
Lee, have you checked compression?  Assuming that's okay, you may have an exhaust that's plugged up.  If applying choke doesn't improve the performance it's probably not a carb problem.  It could also be spark timing so you may want to make sure that's okay.  

Regards
Rich