One thing bu sure the green and brown wires are hooked up as shown, If backwards it will fry the reg as soon as you turn the key on.
No need to discuss just how I know that.
Before I did much running I would change the oil. Watch for junk inthe oil. Bits of black plastic, bits of aluminum.
On the way it runs I would drain out the gas, flush out the tank.
I might try putting in a gallon of gas with about half a bottle of carb cleaner mixed in. If the carbs aren't too bad this may clean them out some.
With the fresh gas in the tank open the petcocks and let the carbs fill up. Close the pet cocks. Let this gas/ carb cleaner soak over night.
On the bottom of the carbs are drain plugs. Remove the plugs to drain out the gas/carb cleaner mix, How nasty does this gas look? Like good gas or brown. If very brown, repeat the gas fill and soak.
If it don't look to bad then try starting the bike and let it run a few minutes. This will get the gas/cleaner up through the passages if they aren't plugged solid. Let it soak over night.
Try running it more, does it run better? If so then run all that gas mix through the bike. Riding it, not just letting it idle. Run it up and down through the rpm range. This gets the gas /cleaner all through the carbs.
While you are doing this read
the carb guide. This gives most of what you need to disassemble, claen and reassemble your carbs. It has a section on how to tune them too.
Leo