2003 ec300 lean/won't get on pipe

[Thompo]

2003 ec300 seems to be running super lean.

Working at mates bike can't get it to run properly.
Was bought knowing it wasn't right but took a chance. I suspected main jet had fallen out from sellers description.

Pulled the carb, Floats were bent and main jet was rattling around the float bowl! Hoped this was the fix but sadly not...

Carb is pwk38 as1
Jetting is
38 pilot
180main
N1EF 3rd clip
#6 slide
Freshly cleaned and oiled filter.
See level to 300m 10 to 15deg.

Starts and idles ok won't get on the pipe and splutters over half throttle.
After a short run the silencer is too hot to touch. Even the exhaust gas out the silencer at idle is uncomfortably HOT with no smoke. (Silencer freshly packed and not obstructed)
Seems a bit low on compression compared to my 250 but this shouldn't cause lean condition would it?
Checked for air getting in by spraying some carb cleaner around carb, engine and flywheel (cover off) at idle and get no change in engine speed or sound.

Any ideas?

My 2011 250 runs well. Over the same run up and down the road my exhaust is warm to the touch not hot and at idle the exhaust gas is verging on cool with a little smoke. Both bikes are using fuel from the same can.

Cheers