Thanks for all the replies - it's a 1993 by the way (4HM1) - After much haggling from what they were asking at £700 I only paid £525 for it with 10 months MOT so expected and knew there would be things needing doing.
I took the carbs off last night and took the float bowls off to check the jets - as I lifted the carbs off I heard a rattle inside the outer rhs carb - opened it up to find the main jet and washer had fell out and was loose in the bottom under the float!! Anyway put the jet back in and checked all the others and one more wasn't as tight as it should be either.
I checked the inlet rubbers and although they look bad on the outside the cracks don't appear to go right through.
Put it all back together and went for a ride - much better now than it was and not leaking any fuel at all - but still don't think its completely right as it seems fluttery on the throttle at certain revs and still seems vastly underpowered - now thinking ignition coils, leads and plug caps. The ignition coils are cable tied on and not even sure if they are the correct ones as they aren't bolted on where they should be.
Can I use ignition coils/leads etc from another bike such as one of my 3TJ's which do run nice to test on this bike or are they model specific? Don't want to damage the coils or the bike and don't know enough about this sort of thing - soz
Also the throttle cables badly need replacing - anyone know if they'd be the same fitment/length as another Yamaha with twin cables?
I've only got my 3tJ's to compare this bike with as they're all 400's - not expecting it to be as quick and snappy as those as the XJR should only be 53bhp standard but feel sure it should be more lively than it is at the mo.
Has standard heavey exhaust at the moment to but will try out of interest a motogp can from one of my others to see if the exhaust is restricting it at all.
I haven't seen any kind of M-Max derestrictor on this bike yet so possibly it might still be restricted to 112mph - although the fastest I've managed as it is now is 80mph

- it was struggling to do 50mph before I had the carbs in bits so at least there's some progress!
Thanks again