First of all welcome to the site, youll find an answer. Oh and buy a clymers manual for it.
Start off with the carbs. Make sure you have everything in the correct carb, theyre different, and make sure that they are truly cleaned out correctly. While youre in there, look at what size jets are presently in them. Youll have to remove the plastic clip to get to the pilots. Make sure the tube is on between the carbs, it helps to equalize the pressure supposedly.
It sounds like a couple of things it could be for the high revving, but my suspiscion is it out of gas? Dont rely on the reserve, I just told this to another guy. Its definitely leaning out, so check the airbox area, make sure the filter is cleaned out correctly, look for air leaks though. Also check the throttle cable and make sure its not hung up or somehow being stretched.
Hard starting can also be caused by low compression, so check your compression!
The smoking could be as simple as the mixture being wrong, what are you mixing it at? What colour is the smoke, does it smell like fuel being burnt, or like coolant, is it sweet smelling?
Where are you?, what type of riding are you doing?