no its not right! sound like it may be a blockage inside one or more of the carbs. (it won't be fuel injected at that age). I'd drain the floan bowls (there is a drain screw on each). Also check the fuel level and that fuel flows freely from the vacuum tap on the tank.
I also remember a simular problem I had (1998 same bike though) which was the breather from the carbs was kinked. I can't remember now where exactly it was but check all the hoses under the tank and round by the airbox in case and be careful when refitting the tank that it does not pinch any pipes.
Plugged fuel filter, did the 99 use a fuel pump if so could be pump pressure low or regulator bad. Will it bounce off the rev limiter with no load on the engine? If so bet you have one of the problems above.
98/99 have no fuel pump, and no pressure regulator.
There is a vacuum tap on the tank and gravity feed to the carbs. The only filter iirc is in the tap where it fits into the tank and can be removed and cleaned (care not to dump fuel everywhere!). What emissions control is on the bike? Its not something we have in the UK, but was there EVAP or some such on these bikes (I have no idea if this could effect anything).
There is a breather on the tank too and if that were blocked or restricted in some way it could make a difference so worth checking all the pipes right through from the tank to the carbs inc all breather hoses, like I said above, and that fuel flows freely from the tank when the tap has a vacuum.
Electrics could be a consideration too - have the leads and caps and plugs ever been changed? The leads from teh coils can be changed but genuine caps are expensive - you can substitute some cheap ones that will fit down teh holes onto the plugs if only to test the theory before splashing out on a full set of Honda ones.
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