Bugger stole my line
seeing as the steering head has water issues with corrossion and what not it stands to reason the other journals would do aswell. the tell tale is that white smoke. water plus exhaust gases make white smoke that can only come from the combustion chamber so as the queen of hearts said"Off with its head"
Lapping isnt hard just labourious.
grab a a nice sheet of float glass( an oldhouse window will do) as its a smooth flat surface, an also a sheet or several of fine grade wet and dry paper (start with 1200 then go to 1500 or higher) and some oil.
Now make slow figure 8's with the head. add oil to the job to flush the build up of crap away . in about an hour you should have a nice flat smooth surface ..Take your time .
Next do the barrel but you will need to remove the studs. wash with warm soapy water after the job is done to remove any crap in the barrel or transfers
if you dont feel like doing that put it into a machine shop for the work.
Its not hard just time consuming.
do check the surfaces with bluing ink to make sure they are flat. I use a texta with the same results cept it dont look as flash as the blue.
To check the main jet just whip the bowl off the carb and have a look at it, is a number stamped into the jet.