I would have to agree, it seems like a fuel mix issue, sounds like she runs fine then something heats up and starves her for fuel causeing the reving, you should definatly richen up the high speed needle, if you can easily get at it I would put a screwdriver in your pocket and take her out when she revs pull over and richen by 1/8th turn at a time till reving stops and she idles good again then ride some more if she revs again repeat, if this is obviously not working check for air leaks around the carbs, clogged fuel filter, degradded vacume line.
as for the petcok leave it on PRI it will function normaly if not get a new one or rebuild it, rebuild kits are $25usd, could also be the vacume line to the petcok has a small air leak causing the problem, do not just open the petcok this is for draining fuel without removing the tank, in a bind it's okay to get you home but just leaving it there is a bad idea and you will soon figure that out for yourself when you go to get on the bike and realize that your tank contents are on the ground below the bike.