If the exhaust is white and smells like gas, it could be running very rich. Usually when a bike has sat the problem is the jets in the carbs get plugged up, so if it runs at all it runs very lean.
There are only two ways I can think of that would make it be running rich:
1. if you are keeping the choke on all the time. The choke needs to be pulled out all the way when the bike is cold, to start, then push it in about half way once it starts, let it run for maybe a minute or two (ride about half a mile) then push it in all the way. If you are letting it idle with the choke not pushed in, then it will be running very rich. Make sure the choke knob is actually pushing the mechanism on the carbs - look up under the tank and you should see the parts moving.
2. If one or both floats are stuck the carbs will over fill with gas - it may also be flowing out the overflow tube. If its doing that you should see gas dribbling out on the right side of the bike. If the floats are stuck sometimes tapping the carbs with a screwdriver handle will shake them loose, if not you have to clean the carbs. You dont want to run the bike if the floats are stuck.
Normally when you put performance exhaust and intake on a bike you have to change the jets and/or adjust the PMscrews, because the increased airflow will make it run lean - too lean. If the bike is running rich even with the mods an no changes to the jets or PMS, then something else is wrong.
Im not sure if you mean you have already let the bike idle for an hour? thats a long time to let it run. You would be better off taking it for a ride for ten minutes than to let it sit and idle.
If the oil was not changed since the bike was parked I would take the drain plug off, and catch the oil in a clean pan, and make sure there is nothing in there. Its only 3 quarts, and you can get the cheap Walmart generic 20W40 for now (in the car section, the one with the bottom half of the SAE lollypop symbol blank, which means it has no added mileage enhancers or slippery lubricants that will make your clutch slip).
then you can keep an eye on the oil and see if its blowing out the crankcase breather tube into the carb intakes and getting burned.
about the gas, if you drained it out but left the reserve (3 quarts) in there, it should be ok with new gas. I would still get the Seafoam and put 5 ounces in the full tank of gas. It will clean the carbs out and would help of the floats are sticking.
Last edited by KCW; 05-18-2018 at 01:48 PM.