I'm by no means an expert John, but yes that sound like an air leak / lean.
Remove the ignition cover and look for signs of a leak, Maybe some oil dribble or small pool at the bottom of the cover. Get a can of carb cleaner (with the little straw), start the bike.
Shoot a bit of the cleaner towards the seal and see if the bike idle changes. Then move on to the airboot and intake. That should give you an Idea where it's leaning out your mixture.
Tuck\o/