As long as there is airflow over the engine it should be fine. Never run an aircooled bike in your driveway for extended periods of time without a fan blowing on the engine. Synthetic oil is recommended for hot temp riding since it doesn't thin out as bad as dino oil. Rotella synthetic is good stuff and fairly reasonable in price. The OE Suzuki vent tube is quite expensive but made from good material that won't melt. Is yours the original or did someone install an aftermarket piece?
I'm confused about this business with the ring gap. How can you check the ring gap on an engine that's assembled? Did you tear down the engine again? Please explain.
I'm also confused about the reference to the points. The '80 GS550's came with electronic ignition so no points. What year is that bike again?
If you actually have an older 550 with VM carbs the symptom you describe sounds like a rich mixture. My old 550 did as you say and I fixed it by turning in the VM pilot fuel screw to 3/4 of a turn open from lightly seated.
Good luck
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