When you say it wont rev up...Does it die out quickly or does it bog out slow when the throttle is turned?
Try changing the sparkplug...Ive had plugs start the engine but die as soon as the throttle is twisted............It also sounds like your float is set a lil too rich ...lean it by bending the float forks away the carb body a tad......You can also lean/richen the carb by raising and lowering the c-clip on the mainjet needleIt dies quikly. As I slowly open the throttle, the motor begins to pop either out the carb or exhaust. I tried to see if it is a lean condition by spraying a small amount of carb cleaner in the throat of the carb while opening the throttle but this stalled the engine. I also tried partially closing the choke while throttling up but stalled the engine. When I pulled the plug after running the plug is dry so this leads me to believe that the engine is too lean. The gas is new with a 40 to 1 ratio. I removed the carb to see the float level. The float bowl was 1/3 full of fuel not including the float in bowl. Is this the level it should be?
make sure the coil and flywheel magnets arent rusty and regap the coil to the flywheel with a .020" thick business card.....Its possible your coil is crapping out and why the bikes running so badly.....Tried replacing the plug. I tried raising and lowering float setting.Had no effect. I raised the mixture needle and it seemed to have a little effect. When I lowered the needle, it would not hardly run. Not sure if I should try a new carb. I am 100% certain there is nothing in the main jet. Not sure if I should just replace the carb to rule out the chance of a fuel problem.