I have no experience with side valve Honda carburetors. My experience with OHV Honda carburetors so far has been that the pilot screw is just an idle mixture screw, and it is quite insensitive: you need to be wrong by more than half a turn to have an effect that I can even notice without using instruments. (I tend to watch the tachometer, let it settle for a while, and maybe find a difference of 10 rpm for a quarter of a turn of the screw. I sometimes do that at around 1500 rpm rather than the specified idle speed of 2000 rpm, to increase the sensitivity.) The idle jet provides the main restriction in the idle system, the pilot screw seems to be mainly an emissions control adjustment.
If you have a problem under load or at maximum engine speed, it won't be the pilot system. If it won't idle, look first at the carburetor to port gasket, then secondly at the complete pilot system, especially the jet. Blow some carburetor cleaner through the pilot screw system of course, but the problem is usually that the jet is obstructed.
