Well my 1st thought, and not to get off topic too far..
You said 1988?? Is this verified? If so it's the only one I've ever heard of on this continent!! We only had the 85-87s here.
There have been some 88s verified to exist in Australia and the UK as well I believe..but not here.
Enquiring mind want to know!!
Now onto your symptoms..I know you've already tackled it but my 1st bet is carb.
Suggest you send it to a professional rebuilder (FlyingW)..it's be the last time you'll ever have to touch that carb.
Current toys..
1986 Honda 350X..trail bomb!
1985 Honda 250SX..my main mudder
1985 Honda 250ES..Back in Black Trike
Current non-trike toys:
1990 Honda TRX300FW
1995 Seadoo GTX
1998 Polaris Indy Lite 340(Nearly new looking)
1998 Polaris Touring 500
1998 Club Car (electric)