Chuck,
After trying about everything else I could think of, I went back and looked at valve spring tension again. I had made a few rather coarse valve spring tension changes earlier in an effort to find a clue to the problem. Those changes proved to have been much too extreme. This time, I tried Richard Williams suggestion of inserting a small screwdriver blade in the valve spring coils with the engine running. Twisting the screwdriver increases tension. Pushing down reduces tension. The engine speed changed a little as I increased and decreased the intake valve spring tension, but the engine did not run a bit better. When I twisted the screwdriver on the exhaust valve spring a relatively small amount, the engine immediately smoothed out. Voila!..It was just a matter of making another exhaust valve spring that would work. Using the screwdriver, I was able to get a feel for the relatively small change in tension that was required to fix the problem. The engine has run now for over 2 hours at a fairly smooth 1200 RPM. The carb adjustment is a little coarse, so a better needle valve might be in order, and the cooling system has proved inadequate for more than 45 minutes run time. So, I have more work to do, but at least I am in more familiar territory.
Jeff