You should check compression and valve clearances. Compression should be in the 180 psi range. (choke open, throttle wide open).
RE carbs:
With pods you'll lose a little pull off the line, but the thing will scream on the highway.
With pods you'll want #98 main jets (stock is 94).
You may want adjustable needles. K&L rebuild kit 18-2462 comes with an adjustable version of the stock needles. Second groove from the top is stock. You'll probably want to go to the third groove from the top. The kit comes with #92 main jets which you could drill to 98.
You should also consider the Dynojet kit #2305. It comes with better adjustable needles (use third groove from top) and #98 jets (along with other jet sizes).
Also, you'll probably want this choke mod to make the choke operation more controllable:
www.geocities.com/loudgpz/GPZchokeScrewMod.html
The 1981 gpz550 carbs (Teikei-22) are simpler than the other years and are easier to tune correctly, but the choke system can be frustrating.
Also, you'll want to check out this site if you haven't already joined:
www.nwsca.com/scripts/gpz_forum_2005/default.asp
Post edited by: loudhvx, at: 2007/09/17 12:12