Thanks for the replies guys. Appreciate the kind offers of jets, I am only new here, but the generosity of members on this site is fantastic!
OK, so after a bit (like a lot) of head scratching, and a more detailed search on VRCC, this sensational forum came up with the goods.

What I learnt here, is that while the US versions of the Valkyrie have size 100 main jets, European and Australian Valks only have size 78 mains, and a foam restrictor in the top of the air box. The restrictor blocks off roughly 40% of the intake cross sectional area. It is glued into the top of the airbox lid and one can only assume that it is in there to allow Honda to run a smaller main jet and thus meet our emission laws?
Unfortunately Mr Honda didn't research his materials very well, because after 16 years, that foam restrictor disintegrates and turns into crumbly dusty stuff which breaks away from the airbox lid/inlet and gets sucked down into the corners of the airbox and sits on the filter. And of course once that happens, the bike effectively has a larger intake to the airbox, gets more air in, and runs lean.
My fix was to use a high pressure water blaster to clean the remainder of the foam out of the airbox lid, and to drill my 78 main jets out with a 1mm drill bit. So now I have "approximately" 100 main jets. and OMFG what a difference! NOW I know what all the rave is about saying these are quick bikes! Coming off a string of litre class sports bikes, I thought the Valk was quick 'for-a-cruiser', but not really all that amazing. But now, WOW! Am I impressed?! It's awesome.
Big thanks to Woody, Johnny Kiwi and Black Duck who posted their similar experiences on VRCC back in 2009.
And thanks to D-Ray Smith who put up a great UTube clip on overhauling Valkyrie carbs! You're a legend mate!