Thank you for all the replies. I will certainly start with the easiest and least invasive troubleshooting first. The bike is currently on jack stands with the front end off, but once it's back in shape for riding I will check the float levels with clear tubing like used F64 suggested.
Can already confirm petcock doesn't leak. Tank has been on the floor for two days and everything is dry.
One user asked what happens when I turn on the choke while idling. The choke does not insta-kill... the engine idles fast and races as I would expect.
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