MMMMMmmmm, like rog says, take it for a run and warm it through steadily, once it's warm then spin it up through the gears but keep the engine loaded. See what happens, as long as the boys in blue haven't felt your collar!
Revving the nuts out the engine with no load won't tell you much and what about this "air shut off valve" thingy? Have you rebuilt any other bits. There just seems to have been a lot of changes with no new spark plug, plug cap or HT lead mentioned. Change one thing at a time and you may have a better idea of what may be at fault.
Finally, how many miles has the motor done and has it been lying afore the new bits went on? Did you check the valves seating or is the exhaust valve burning out or sitting off the seat due to carbon build up. Although the afficienados claim no loss of performance have you got an open crack between the valve seats and the spark plug hole inside the head?
Questions, questions, I'll get shot! See what 002 suggests or 003 when they next log in, I only run an SRX!
Hope you find the beast soon, Bill