More likely the MC16 bottom-end, I'm afriad. It's never going to make much over 50hp without getting the grinder out on the insides of the cases. Maybe 55hp tops.
You could also find that air correction is suffering, depending on how the caburettor plumbing is hooked up. Time to get it to a dyno really, and play with settings.
No reason a 16 bottom with 18 barrels, 18/21 carbs, and a PGM-III shouldn't go well, but it will take some setting up. Bear in mind that an MC16 F-III is rated at 68hp, even with 28mm carbs, so there's plenty of potential even with that bottom-end.
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Andy.
NSR-WORLD.COM
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