I'm beginning to think that the Yamaha engineers just may have known what they where doing.
I've been running 17/32 or 18/34 gearing for quite some time on my primary bikes. Yes, a little more clutch play starting out in first but rarely get over 4k rpm in 5th gear. From what I've read on the forum is that the slides on these carbs don't even start to lift until 4k, and max fuel efficiency is achieved after the slides come in to play.
Like Gary said, a lot of shifting with the 17/32.
I just got the '78 roadworthy with stock gearing 17/34. What a rip! I find that there's a lot less shifting and great throttle response from 2500 rpm to 4k rpm in 5th gear.......less shifting. Now, when I get her tagged and out on the highway screaming in 5th I may rethink about those engineers........lol