JFab,
Yup, the choke will allow fuel to enter the carb at any time if it's pulled.
That's one of the ways to check your jetting.
If the bike runs better with the choke after it has been warmed up your probably lean.
The hard part is to do this while running.
The choke cable is a good Idea in my opinion.
So simple yet it never crossed my mind.
I have heard of open desert guys hitting the kill switch to allow some extra oil/fuel run through the motor on extended WFO , which would accomplish pretty much the same thing as the choke cable.
Tuck\o/