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Thanks for the response. After posting yesterday I found another post on here outlining a similar problem. To deal with the idle problem I drove it around until it was hot and choke plate opened and adjusted the idle mixture screws which made a huge difference. Turns out that I had to richen each ***** by about a half turn, I guess that makes sense in that it idled fine when the plates were closed (less air) and badly with the plates open. This did not help with the hesitation problem so I messed with the timing and found that advancing it by about 8-10 degrees from where it was at before made a huge difference, it's running much much better now at idle and under power when hot and cold.
The only thing I'm still a bit confused about is why it previously had plenty of power when cold but no power when hot. I always assumed that if the timing was off, it would have the same power problems at all temperatures. Anyway, it's much better now so I'm happy. /emoticons/[email protected] 2x" width="20" height="20" />