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Return your carb to stock specs and go from there. Bing carbs are more tolerant of elevation changes then the Japanese carbs and it has been my experience that the jetting specs are very close stock from the factory. I have ridden my 500 from sea level to 8000ft and my 380 to 10,000ft without issue.
It sounds like you purchased the 700 used and it has been my experience that with preowned machines you can't trust anything. For example, if the ignition timing is variable has that been monkeyed with and if the 700 has a powervalve is the unit broken or is the diaghram leaking? Once I found a rag in the exhaust of a machine, perhaps the previous owner should have called it a night sooner. Let us know how you make out and post a picture of the brute.
It sounds like you purchased the 700 used and it has been my experience that with preowned machines you can't trust anything. For example, if the ignition timing is variable has that been monkeyed with and if the 700 has a powervalve is the unit broken or is the diaghram leaking? Once I found a rag in the exhaust of a machine, perhaps the previous owner should have called it a night sooner. Let us know how you make out and post a picture of the brute.