Today , I decided to take a look at the distributor, the points looked great, no pitting present, but the gap was a bit small, so I set the gap on both, and then hooked up the timing light . The timing was quite retarded on both cylinder, so I set it to the proper slow speed advance. after marking the appropriate marks on the flywheel with white paint, I checked the advance at 5-6K rpms, and it went to where it should advance to.
Now I find the bike idles much better, I had to readjust my carb balance, and idle speed. The bike now idles very smoothly, and runs strong.
Next, I plan to replace the funky stock air box with individual K&N pods, and install a V 7 sport breather in place of the oem one.