The '80 GS1000 petcock has the wrong hole spacing, does not have a lever, has a screwdriver slot to switch between prime and on, no reserve.
I've had my share of problems with GS1000 petcocks, I believe I had four and managed to get 3 working, the fourth was an oddball, think it was a 850 as it had the gas line on the front, didn't bother with it except for parts.
I had external and internal leaks, leaks from the petcock, external, and doesn't stop the flow of gas, internal.
Cleaning helps, especially that little breather hole that gets plugged at about the 2 o'clock position on the front of the block if you look at it from the front. That seal under the switching lever was bad in most cases, gets hard and compressed. There's also a check valve inside the vacuum line port that if it's bad, there's really not much you can do except clean and lube it, I used WD-40.
If you decide to take it apart pay particular attention to where all the pieces on the diaphram block are. Theres a small breather hole that goes from the front through the diaphram, through the diaphram block, they all have to line up for the diaphram to open and "close"
At Boulevard Suzuki you can get a new petcock for $263.01, it's not cheap.
If you clean it, you'll probably want to replace items 2, 3, and 4. and also the special sealing washers it doesn't show a part number for which is 09168-06023 for $1.16 each, or you may be able to get by with some teflon washers at an auto parts store.
http://www.boulevardsuzuki.com/fich...y=Motorcycles&make=SUZUKI&year=1978&fveh=2146
You can get rebuild kits on E-bay or other sources, we've had problems with those also, as some people claim the little O ring on the diaphram is actually too small to seal properly. I only used one kit and it worked for one of my petcocks.
Oh, here's a petcock rebuild tutorial.
http://members.dslextreme.com/users/storagecliff1/images/suzuki_petcock_rebuild.pdf
And two final things, be sure to tighten those screws that hold the diaphram block on very lightly and evenly initially as to allow the diaphram to find it's own center before you go cranking them down and when your finished run a gas line to a fuel can to test it. I've had better luck than most people rebuilding these, but it still was trial and error all the way.
Good Luck!