One reason Billy says to "lightly" oil the filter is because there is less air when the filter is oiled; similar to taking the air filter lid off; Adding more air.
Even the oil mixture changes everything. More oil means less gas.
Get the carb specs and see whats in there.
So once you have the motor all set with those, check a new plug. Then get another one and you may not want to plug chop it (WOT) just yet because if that air cooled motor is lean, you'll smoke it.
That needle being all the way up means "I want a bigger main jet!!" : So, starting fat or too rich is the best way to start.
Yes, jetting gets expensive; But, if your in the game with numerous models then extra jets won't hurt. If I thought a 150 was too lean, I'd bump up to a 160 and see how it acts.
Guess what happened to me this weekend?? My jetting on the 87 200X still wasn't quite right and I had no low or midrange power or pull. I messed around with jets and such and recalled that when I did this "20 day build" that I lightened the flywheel. I changed it back to an OEM flywheel and it definitely improved those 2 areas of jetting. I didn't have to touch the jetting once I swapped the flywheel. There simply was not enough weight to keep the motors rotating mass happy.
Just 1 more thing I learned!!
All our government does is distract us while they steal from us, misspend our tax $ and ruin our country