If your plug is black after a short run time then your running too rich. The noise could be many things but let me say this, all 200's have a tick... PERIOD.
I don't give a crap what anyone says, the 200's sound like a sewing machine clacking away no matter how much you put into them. It's just inherent to their design of the valvetrain. My 200ES has a fresh top end, new valves, new piston and rings, fresh bore and hone, new timing chain, etc etc... The top end is as new as your gonna get. It still has the same tick as it did before rebuilding it.
I had a 200 here that another guy was determined to get quiet, he bought a new cam, new rockers and rocker shaft, new timing chain and guide and tensioner, new piston and rings, and a new old stock cylinder that was stock bore. He spent a TON of money on the top end. Put it all on, did a very meticulous job of breaking in, etc. After about a month it started to tick in the top end, and its back to the same noise it made before. Now all those parts were replaced and new, so why would it tick nothing is wrong? Its just how the 200's sound in my opinion. Its been argued on here many times.
Now what i would do is get a mechanics stethoscope, they are not that expensive, $20-30 at the local auto parts stores around me and they come in handy. With that you can rest it against various parts of the motor, the rocker cover, the head, the side of the cylinder, etc. Pinpoint the noise by finding where its the loudest. A long screwdriver held to your ear works just as well, another old school tip for ya.. LOL
Also if the plug is black and its running rich you could be getting some fuel knock, aka detonation, etc... Before tearing the motor apart i would exhaust all options. Get the fuel mix right and pinpoint the source of the noise.
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1984 Honda ATC200ES "Big Red"
1982 ATC200E "Hondie"
1988 TRX300FW "Project Quad" Still in progress....