Motorcycle Repair: 1977 Honda 550K throttle stuck, needle nose pliers, throttle cable

Question
I recently bought a 1977 Honda CB550K and since, the engine revs really high
after a few minutes when idling. When I'm riding my motorcycle wants to go
faster and the only thing to do is shift up. When I pull the clutch in, It revs
extra high. when I adjust the carb screw it the engine will calm down but then
stall.  I was thinking the throttle cable is getting stuck so I recently lubed it,
but it started doing it again as soon as I did it. How long do I need to wait
after lubing the cable? or is there something else I'm missing?

Answer
If the carb idle air mixtures are right and the carbs are synchronized fairly close, the problem is probably a worn out timing advance unit.  Take a close look at the springs on the advance unit.  I think you'll see that there is almost no preload tension on the springs.  There needs to be some preload to make the cam return to the timing retard position.  You can probably pinch the loops on the ends of the springs a little with a pair of needle nose pliers to close them up and it will add some preload on the springs.

That year has a cable to open and one to close the throttle so it's probably not the throttle cable.  You should be able to manually close the throttle if it started to run away.