Restored a Honda 50 there a while back. Shit load of new parts. Bike starts and drives fine but when driving and ya get it into 3rd it bogs down.

I’ve cleaned the carb and checked all settings: No difference

Fitted a new carb: No difference.

Checked timing: No difference

Checked valve clearance: No Difference

New coil: No Difference

New plug: No difference

Compression is good.

Put back wheel off the ground and ran the bike threw the gears and revs out all the way. It only seams to bog down under load.

Only thing thats left to do is piston and rings and there was a new exhaust fitted and that might be interfering with performance.

Anything anyone can add to my conundrum?