Sounds fuel related.
Carby: possible sticky needle and seat - sticking partially closed. Seen it but not common on strommies. While you're there check the nuts that bolt the carb to the manifold are firm and the base gasket hasn't sucked-in anywhere.
Fuel Filter: More than likely the culprit if one fitted - blocked.
Other probable culprit: worn out fuel pump.
Fuel lines: when changing the fuel filter try (very very gently) blowing some (not much) compressed air back towards the tank. I say gently as I cannot remember if they had a sock on the pick-up in the tank. Make sure you remove the fuel cap so as not to damage any of the breather lines and fittings and also listen for the bubbles in the tank.
While you're there check your manifold gasket by running the engine at idle and spraying agentle mist (away from the alternator and definately not after a 10km drive with a hot exhaust manifold) of something like WD40 etc around where the manifold mates to the cylinder head and around any vac pick-ups such as brake booster etc. If the idle changes you have a vaccuum leak to fix. Be careful though. Some people suggest using water for that test for good reason....
Try a run without the air filter also to see if that is an issue.
Possible but unlikely the cam gear has shed a tooth.
Regards,
Dave
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