1979 XS400 2E Starts Easily but Dies Shortly After...

Edgewood

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My 1979 Yamaha XS400 2E will start up easily and run nicely for 1-3mins and then die. If I keep revving the throttle it will last a little longer. When it stalls out it usually won't start back up right away but if I let it sit a while it cranks right up (but dies again shortly after). When it dies it just idles down, kind of putts, and then dies (Quite a bit of white smoke when dying). I've put new oil in it & the stator is charging the battery nicely (Recently replaced stator because the wires were pinched and grounded against casing). The plugs seem to be sparking but are a little wet & black - Possibly because I put too much oil in at first but have since drained to proper level. I've had this bike for months now & have yet to ride it more than a few miles. Any ideas? Thanks!
 

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Thanks mate.

I'm not quite sure how to say twhat their set at quarter turns? halfway? What is the ideal setting - I have yet to reposition them. I'm quite the handyman but fairy new to working on bikes so work with me. Thanks!
 
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