Why is my motorcycle not producing the power that it should?

My 1985 Honda Magna v30 runs fine(sounds normal) but I have a hard time reving it above 9,000rpm with full throttle which it should hit red line at 11,500rpm… I'm cleaning the carbs currently. Sometimes it has a hard time starting-eventhough I can hear it combusting. It should be able to hit 110mph with ease but it has a hard time getting to 55mph right now.
I have already ordered
-new air filter (it was thick black in the inside)
-oil filter
-?(this part is for you to answer)
what should I get, repair, clean, or inspect

How did it run without the air filter fitted? It can't really be running fine if the air filter was in such a mess.

Have you checked the carb rubbers, if they are holed then they will defeat any attempt to identify the problem.

Check for valve leakage by performing a cylinder leak down test.
While you are at it, check the cylinder compression.
Piston & rings don't last forever,

If the engine is in poor condition, it won't produce enough vacuum to lift the throttle slides.