I just bought an '82 XS400J (Maxim) this week. It ran pretty well in the around the block test ride I took, but it was a little short in power. Of course there was nothing but flat ground in that neighborhood. After getting it home I took it around the block, which includes a good sized hill, and I noticed a huge loss of power.
A little longer ride on a hilly road and it seems to do pretty well in the flat spots, but when I hit a hill I slow down to about 25 mph, even with wide open throttle (in 2nd gear). The tach is reading around 4000 rpm. As soon as I hit flat ground again the revs go back up, as does the speed.
I plan to do an oil change and probably take the carb off for a cleaning tomorrow. Is there anything else I should be looking at?