Did the next possible check today, took the clutch cover off to see if pickup coil was loose. It definitely wasn't. Couldn't get some of the bolts loosened. How do I test the pickup coil?
Next possible check is to go back to the "relay unit" and test any cutting out. This problem has been going on for almost 5 years now so I have replaced the relay unit with a used one off ebay. The part numbers matched up but it didn't resolve anything.
Anyone had issues with the relay units? When the bike dies, I do hear the relay unit "tick" and I have one of the wires lose power. It's been a while since I tested this but thought there may be some response.
Regarding the "spraying of gas in the carb
when it starts to die as previously mentioned"...I must again clarify, the bike does not sputter, does not cough, no backfire, it runs like a dream then just dies like the key has been turned off. The bike doesn't cut out when I wiggle and jiggle the wiring or the key so I'm looking back at the relay unit as an issue or the ignitor unit (the last thing I want to imagine).
Anyone with experience with the relay unit or ignitor units cutting out on these, give me a sign of what I should be looking for and what I should expect.