Poor performance

Good call.
Steve

So I clear tube synced the carbs to the proper level and I check the timing advancer and it's working perfectly it ran amazing after like new, a week of so later not as bad but backfiring and losing power and getting hot, I just ordered a new air filter I'm changing the plugs again and the oil just for the hell of it.
My plugs are now differing in color 1-2 look rich and 3-4 look ok not great but not the coffee brown I like to see my old filter looked like the original and may have been restricting a lot of air, but if it was running rich I don't know why it would be getting so hot?

Routine maintenance, check and adjust the valves. Chances are they haven't been done in 3/4000 miles.
Steve

You may have an issue with your ignition system. One coil fires plugs 1&4; the other coils fires plugs 2&3. I noticed in your photos that spark plugs 1&4 look one way and plugs 2&3 look totally different. This might indicate that either the coils, the ignition pickups or the igniter have a problem that is affecting one or both pairs of plugs. Here's a link to the diagram of the KZ550-C4 (1983 LTD) ignition system so you can see the components involved. Ed

www.dealercostparts.com/pages/oemparts#/...0-C4-1983/080122I-12

U got junk in your carbs.....rarely will it be the electrical system.
Remove all jets and use the small jets cleaning brushes.
Something is clog
Also make sure all the connection under your tank are done right... Maybe a loose coil connection.