The PGM-II system in my eyes is one of the best. MC18's always run very strongly (they also have the best standard engine which helps mind). The PGM-II was also used on the HRC F3 and RS250 bikes.
Nothing wrong with the PGM-III either but the II is simpler. The PGM-III went on to be fitted on the Factory 250/500 GP bikes. Either system works well.
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If I have to take the carbs off once more...