Thanks for the feedback, yes wet plug as well as when cracking fuel will drip out of the exhaust, I have a Manuel and completed test for the electrical system and just to be on the safe side, I replaced the CDI, voltage regulator, stator, coil, plug and wire. this is my daily driver, I replaced the carb, I have adjusted the fuel air mixture screw 2 5/8 out as well as tried to lean it, I raised the eclip on the jet to the top position to try to lean out the fuel even more, I have tested the spark with the plug out, its good. ( or seems to be). if I go full throttle, it will run for a few seconds than shuts down, (too much fuel) pull the plug and its wet. I have left the cap off the fuel tank, fuel is clean. I agree on the valves and rockers, that is why I am posting it, there is excessive wear on the exhaust rocker arm and lobe for the cam, I can run my finger nail on it and there is a lip.
I agree on the aftermarket carb as well, but this issue started with the original carb and due to the price I chose to purchase one instead of rebuilding, I have done this on some of my other ATV/Dirt Bikes and they have worked well.
the one thing I haven't checked which im not sure on, I have confirmed the flywheel and cam timing marks line up, but am under the impression there is another key on the crankshaft and gear with the chain? I have not pulled the stator plate to verify this key is still good, but at TDC with the timing marks aligned, if I go slightly past the flywheel will automatically spin forward which indicates to me the piston is truly at TDC.
any more help would be greatly appreciated as I am not sure that I believe the exhaust wear on the rocker and cam will correct my issue, though I do know they need replaced...