The 91 Banshee I brought home yesterday has THE problem too.
My specs:
91 Banshee, FMF Fattys, VForce Reeds, Stock carbs, Thumb throtte, TORS in place but unplugged, balance pipe has been removed and plugged, no airbox, K&N filter, checked everything for air leaks earlier and didn't find any.
Went for my first ride on it last evening. I think it was around 65-70 degrees out. During the first hour of my ride, I had no problems. I ran through quite a few mud and water holes (although I wasn't splashing much, just going slowly) with no problems. I rode a dirt road for a while in 3rd/4th gear with no problem. Stopped a few of times and twice when I shut it off, could hear the radiator boiling or something (probably unrelated). On my way home, it started barely raining but it didn't cool off much outside. I noticed a few times that it wouldn't drop all the way back to idle immediately, it would drop down to "almost" idle speed, then after a few seconds, go to idle. On one steep downhill section, I had the clutch in and was drifting when it started to rev by itself. It didn't go full throttle, but it did go pretty quick. I blipped the throttle and it went away. Finally when I got home, I let it idle and got off, checking over things and it started to rev again. First it went to half throttle and stopped, I blipped the throttle a few times and it started to back off, then it went wide open. I turned off the kill switch and IT KEPT RUNNING. Then finally, I jumped on and dumped the clutch to kill it.
Could it be related to the premix ratio? The lack of airbox? Anything else? I'm not sure what oil and mix is in mine now since I'm still burning the previous owner's gas but I think he said it was Klotz at 32:1 or 40:1.
I also plan on putting a stock airbox on if I can find one since I do ride in a bit of water usually and don't want to suck it into the engine.
Sorry for the long post but I wanted to provide as much info as possible. Hopefully we can figure this thing out together.