My 79' had 2 petcocks when I bought it. I now have a tank on there from an 81' I think - not really sure when it's from.
I run 1 manual petcock (from Mike's) on that setup and the fuel line splits right before the carbs and go to both. No issues, just did a police-escorted toys-for-tots style ride clear across the city of Charlotte a few weeks ago.
I still have the old tank as a spare. Since i have changed my vacuum intake manifolds for non-vacuum ones, I have a different setup on that tank. One side is blocked off with a beautiful creation I have made out of an old vacuum petcock, a grinding wheel and some JB weld. It doesn't look half bad actually. The other side has the old vacuum petcock but with the vacuum port capped off and the in-tank filter removed. I just use it on "prime" when I run that tank which doesn't happen often. This is when I live dangerously because there is truly no reserve there. I did run out of gas when I first bought the bike and tried this trick and tipping the bike got me nothing - maybe I wasn't tipping far enough.