I run 38mm VM Mikunis on two of my 500 engines.
One is a SR500 engine, 500cc, 12.5:1 CR, flowed head WEB 88A cam Straight thru megaphone exhaust, run on 125 octane unlead race fuel.
Jetting is;
270 main
6F9 needle on 2nd clip
P6 needle jet
#2 slide
20 pilot
dynoed at 43HP
XT500 engine, 535cc, 10:1 CR, flowed SR head, TIGHE 503 cam and a fairly free flowing exhaust, run on BP Ultimate;
190 main
6F9 needle on bottom clip
P6 needle jet
#2 slide (needs a 1.5)
25 pilot
dynoed at 30HP
CJ