Thanks guys for your helpful comments.

Just to answer them:
1. Fuel filter is clean.
2. I am using the full carbymaster rebuild kit
3. I am running 95 RON

I filmed the engine running after I gave it a refresh last year - It would idle at 3 different speeds according to throttle position. Even though I know these carbs aren't really designed to do that, it was very responsive.

Now the revs don't drop when the throttle is mid way between run and choke, so I suspect there is something else going on... Overall I think it is over revving, running hot, then cutting out. I have different revs at the choke position and run position, but I suspect the speed it is running when in choke, is actually what it should be doing at full throttle.

I hate those damn cut of switch terminals - I am going to start by replacing it with a proper switch and plug the carb because the terminal was interfering with the throttle a bit. Although I don't think it's related, I'd like to do it anyway.

If you are interested, here are some videos for your viewing pleasure (and listening pleasure of course!)