Is that a 'wiseco' old style piston number [just visible] wiseco's [i was told] require more clearance than the original piston it would have been running due to there different expansion rate. To shoot that theory down though--if it had been running fairly hard for an hour or so then--don't know. Did totally remove a bridged exhaust port [LA or Wiseco sleeve in my GYT DT1 Kit cylinder] about 40 years ago, bit of a brave [stupid] move but still going. Have a fairly thick ring compared to modern thin ones though & never got snagged. [lucky], Made a big exhaust port though. Anyway-back to the problem, mix it 'oily' & richen up the main & needle a bit then put run it on av gas for a try. One other thought, did you say power valves are not working?, wonder if you tie the linkage in the fully open position--put up with a rush of power & see how she goes. [i missed what make the bike is but] Goodluck. ps, hasn't popped a crank seal out from the magneto side?, be running bad & gaspy lean if it had, couldn't see just a simply worn seal leaning things out 'that' much as would always have an oily mix keeping seal trying to do it's job. Sorry, one more thought [you might have said] have the power valves been relieved [if necessary], probably not a lot of clearance between them & piston when shut & think you're on second oversize which [not sure] could be 20 thou or 40 thou depending on how the oversizes go for your model. Goodluck twice. Damn it, more thoughts before i go, had a KX80 when the kids were young [40ish now jeez] & the water pump impeller had become detached from the shaft so just basically therm-siphoned around, did fix it but must've been like it for ages and never gave up.