Lolz, currently getting 30mpg on my ~60hp 500CC. Going to do something about that first thing after finals.
So far my list is:
Air/Fuel filters
redo spark plugs if they've fouled up since last year
double check my valve settings from last year, possibly use a new method I found out about for doing those
sync the carbs on the bike (maybe pull them and clean them again, sync the butterfly valves, and repair the diaphragms)