Kiddo,
Since it was running good for the first hour it sounds like you may have picked up some crap in the mainjet, or it has plain fallen out (I had that happen to me once - strange as it sounds). The power valve issues will make it lose power at the top but it will still run ok. I like to run those mini inline fuel filters, always have and have one on every bike even my CBR900. Avoids lots of potential issues for a $2 filter. Keep us posted on what you find. Cam.