the bike falls flat at about 1/4 throttle. It'll pick up fine right off of idle, and revs fine in neutral, but after you open the throttle about halfways while running down the road the bike just gags and chugs.
Dual carb with fuel pump and inline filter. Could be fuel starvation, takes a lot more to run under load. See the manual for bypassing the fuel cut relay and do the pump output test. If that is good, leave the relay jumpered, tape it up and go for a ride, Relay could be bad and it's gravity feeding enough to run at idle/ low speeds.
The relay is a safety device, it's there to stop the pump if you crash and the motor dies...