Ed,
Mine had a similar problem. Turned out to be a piece of paper-towel/cotton that was obstructing the right carb's main jet.
Given that
Quote:
When cutting out, opening the throttle accelerates like a jack rabbit with no cutting out
it sounds like a fuel problem. Does your ride accelerate if you pull out the choke when it is cutting out?
Being as how your main needles are shimmed, you may, (by rolling on the throttle when it dies) be lifting the needle up enough to get the fuel you need. Why this hunch? Well rolling on the throttle won’t do much if a fuel line is clogged, but will do something if you are in essence making the fuel line larger. (Lifting the needle increase the main jet’s fuel transport)
PS Indian River? Anywhere near Merritt Island?