Keep going leaner. Best to go 1 size at a time. Try to find an indy that will let you swap out jets.

You can go 2 or 3 smaller on each and if it's too lean, run a drill bit through them to the next size up, if you have a complete drill bit index.

 

Just out of curiosity what do your plugs look like?

Your manual has a test that you can use on your coil if you have a volt meter.

I don't know if there is a test for your ignition module.

 

Plug center looks great. There is some black around the ouside

 

I just went thru rejetting my S&S E after putting on new ignition module and a VOES. It was a pain. I had to change the intermediate a few times.Take a deep breath. You should be able to get it jetted right. One caveat,my bike has 2 into one pipes and you have open drag pipes. Those may be a problem according to the S&S manual. I'm just throwing that out as a possible problem. I ended up with 72/31 jets.
Anyway, I followed the manual and got it dialed in.
"S&s tech said 31 and 74, ive never changed the int jet yet. Sounds a little rich to me"
Turn off the accelerator pump and get your intermediate jet correct. I started with the .295 and it was too lean. Your idle mixture screw should be about 1 turn or so out after the bike is warmed up and you have adjusted the screw for best (highest) idle. Then add in about a 1/4 turn rich (out). You said at 4 turns your bike runs better. You were in effect putting in a bigger jet.
My bike stumbled badly rolling on the throttle at different speeds leading me to think it was rich. Just the opposite.I had to bump up the intermediate. If you can get the bike to accelerate pretty smoothly rolling on the throttle at different speeds then go ahead and start putting in some acc. pump till it will take a good throttle blip while idling and it's warmed up. Keep in mind that the bike has to be warm to get the correct performance out of the carb. Mine tends to cough (lean)till it's warmed up. Temp and humidity will affect jetting as well. It's very humid here right now which leans out mixture.
I'm at around 40mpg now. Plugs were pretty clean without much color last time I checked them.
Just wanted to give you the benefit of my experience. You may have other problems.
Hang in there!
Edit: Just read your post about trying the 74/31 jets. How was the idle mixture screw set with those jets?

 

According to this website that is a timing issue.

http://www.4secondsflat.com/Spark_plug_reading.html

 

Im think around 1 1/2

 

I installed a high flow petcock and removed my old vac one. Seems to run a lot better. I went on a test run tonight and was running great @ wide open throttle I road out of town a mile and turned around it started cutting out again. Its about 100 outside and been out in this crap all day so didnt try jetting. Were supposed to cool off so hopefully I can play with jetting tomorrow

 

Just as a FYI, I'm running a 265 intermediate and a 64 main. The carb came from S&S specifically for my bike with a 295 and a 72. Super pig-rich everywhere.

 

I didn't know you could get jets that small for an S&S E.

I am running the 295 and 72 in my bike and the plugs look great. Why do you say they are pig-rich?

 

With the 295 and 72, I was so rich I was fouling out plugs before I hit pavement. Gas mileage was like 25, plugs were black, low power, etc. I rode it to Sturgis like that and had to buy a hotter plug at the auto parts store on Main Street to get home. It took me probably a month of dinking with it to get the jetting right.