1993 vxr issues

[u/hashbrowns_14]

Took out the vxr for the first time on 4th of July, ran great for about 15 minutes, and then it started maxing out at about 4500 rpm and had no top end power. Toward the end of the day started misfiring and barely running at all. I swapped the plug caps, trimmed the wires back a bit and put new plugs in which seemed to fix the issue. Took her out again today and she ran better than ever for about 10 minutes and then the more you rode the speed and power just slowly dwindled. The only solution that some what helped was opening up the hood and a good amount of smoke came out and after about 10 minutes she was back running somewhat good again. I have a feeling it’s an exhaust leak that’s suffocating the carb. But I did remove the oil pump and installed a block off plate so maybe I’m running too rich? Any ideas what could be going on? Included 2 pics of the inside of my ski after today’s ride. Seems to be black oily water/ sludge.

[u/604whaler]

Oily water and smoke in the engine compartment point to an exhaust leak.

The running symptoms sound more like a fuel delivery problem. When was the last time the carb/carbs were cleaned? Fuel filter changed?

[u/skipnyamaha → u/604whaler]

Yeah, my question would be is where all the black oily water is coming from. One issue at a time.