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I bought this bike new in 1980. Has 22000 miles on it. It's been parked in a shed since 1999. Moved it to my shop 30 days ago to get it running. Removed carbs, disassembled them and placed them in ultrasonic cleaner for 12 hours, reassembled and installed. Installed aftermarket timing chain tensioner. Filled carbs with gasoline, (fuel tank still off), cranked motor and it started. Ran for about 2 minutes and it died. I figured that the carbs ran dry, filled again, no start. Tried several more times, no start. Pulled plugs, weak spark. Pulled coils, cracked. Bought new Accel coils, installed new plug wires and plugs. No start. Checked #6 piston at TDC, T mark in correct position, igniter dead center, so I assume chains haven't jumped. Compression runs 140 -150 with one cylinder at 75 , but it ought to start and run on 5 cylinders. It don't even fire at all. Have 12 volts to one side of coils but there is 12 volts on the igniter side also, is this right? Hooked up a timing light and it flashes as you crank it. I've got a factory shop manual and it appears that the electronics check out, but I am stumped.

Sounds like fuel trouble to me. First thing I would do is grab a spray bottle (I prefer a WD40 spray bottle because the oil based cleaners won't ruin the seals in the pump) Put gas in the bottle and spray the carb inlets. Try to fire it up. If it farts or ... at least you're on the right track.
When it didn't fire after several attempts, did you pull the plugs and find them wet?
Were you burping the throttle when it died?
If the timing light flashes then you have spark. The induction coil on the timing light needs to see no voltage then voltage then no voltage to fire the light.

First: Sounds like you and I are of the very few who have had there 1300 since new. On this point alone - Congratulations !

I'm in general agreement with KB. About two minutes is the minimum run-time on a bowl of fuel. We'll assume that the float-height is correct !!! Too many points to consider so in general terms: If all other parameters are within spec as you imply then the carbs could certainly be suspect. Not to be critical of ultra-sonic cleaning but if the bodies weren't flushed thoroughly after this type of cleaning then any scale/debris remaining would go straight to the idle needle/transition ports and create a blockage/restriction. It takes only the smallest particles to create this situation and I can imagine after sitting for so long there was likely some Varnish/sludge/scale throughout the carbs. If you get to a point where you are convinced that the carbs are blocked, consider my Cleaning Tool. It deals with this issue specifically and you may be surprised at what gets flushed out. Raw priming with a spray bottle as KB suggested should at least get some Ignition response. Another option is too simply place the palm of your hand over the carb inlets for a revolution or two. (no air-filter in place.) This will "Choke" the carbs for air and immediately pull fuel into the galleries and jets. Again - you should get some response. If it fires and quits or runs rough then you've likely got carb issues. When cleaned and "tweaked" the carbs are great. Get a couple of pieces of debris in any of the idle jets and you will certainly get frustrated. If you can at least get the engine to run on its own, even if roughly then simply pull off the spark-plug leads one at a time to determine which cylinder(s)aren't getting fuel, and go from there.
A good point by KB about the plugs being wet. If the metered air supply ports for the idle circuit are blocked you will run extremely rich on those affected cylinders and that may be fooling you. More specific details would be helpful so keep us informed as you progress through the diagnostics.

Sure sounds like carbs to me. I got mine in September 79 and the carbs have been a continuing source of frustration. I have recently used the carb and throttle body cleaner with great success as it dissolves the varnish unlike the ultrasonic which often leaves flakes after lifting it off.

Sure sounds like carbs to me. I got mine in September 79 and the carbs have been a continuing source of frustration. I have recently used the carb and throttle body cleaner with great success as it dissolves the varnish unlike the ultrasonic which often leaves flakes after lifting it off.

Thanks for the replys. I've gotten so desparate as to use starting fluid (carefully) and cannot get it to fire, so while I'm not ruling out carbs, it sure clouds the issue. I've been working on cars, trucks and tractors for nearly 50 years but this one has me stumped. I'm gonna jerk those carbs tomorrow and vat them in carb cleaner. The are such a joy to work on, I wish there was a way to install a Holley and be done with it.