Update:
Currently the bike is having high RPM issues, it's not poor performance, the performance just isn't there. The power is available from idle and it grows quickly till about 4500 RPMs where the bike hits a wall, I can squeeze out another 500 or so RPMs but there is no power to be had. I'm new to bikes, and to working on motors in general, my dad and I adjusted the timing (we used only hand tools, we don't have a timing gun or a dwell meter), cleaned the points and set them, gapped the plugs, and a few other things but nothing has helped the top end. My current guesses are: 1) the timing is still way off, or 2) I really need to adjust the carburetor. I would REALLY like to get the bike back up and running good again, in the whole RPM range, not just the first half of it. Thanks for any help whatsoever!