If you got it out of rosemead ca I bought one off of Ebay and plugged it in and it did not work either. It had a lifetime warranty and they gave me a new one. They told me not to bother to send the other back and I rebuilt it--Yours if you want it.
On the bike---
Page 3 # 23
http://www.vmaxforum.net/showthread.php?t=17274&page=3
file:///home/chronos/u-19cfb814f36b520531bd892406c822b5ca12d598/Downloads/Wet%20Float%20Measurement.pdf
Heading out today to pick this one up today,-How many thinks it's an '1985? Me thinks it is.
Footpegs and side covers.
http://inlandempire.craigslist.org/mcy/5748960413.html
The smoke is of course unburned gas-could be a float level set to high--It could be the cracked diaphragms that are not lifting-This works for repair----...
I will give you this one and $3000 cash-it is 1985 #0262 matching engine #'s and I will ride it out to you with title in hand--------
https://www.youtube.com/watch?v=fDUguISFwco
Where exactly did you get the pump? Rosemead CA ?
Where you plug the pump in ( the black 2 prong connector) put a multimeter on it and see if it has a reading.