Use a jetting chart for a 700 with rack carbs (I know the 2001 had racks on 'em.)
I had issues when I put a rack on my 97 700 because the steering post was very close to the mag-side carb. You may have to check for issues there. I also had to remove the water trap on the PTO side carb, there was no room for the hose on that side; the bulkhead was in the way.
I also changed the oil pump. The oil pump on my 97 was a 3 line pump; one for each crank end, one to the fuel pump. I went to a 4-line pump from a 2001 to give oil to each crank end and oil to each carb. You probably can get away with the oil to the fuel pump, but that seemed to me to always be lagging behind in oil/fuel ratio. You punch it while at idle and the fuel in the fuel bowls is metered for idle; you have to burn some of that fuel off before the ratio changes to meet the oil requirements. Same thing going from wide open to idle; now you have extra oil, which can foul plugs. The oil to the carbs is more precise, IMHO.
