Joe, at this point I suspect as I said earlier, that you timing is perhaps too advanced.
You can clearly see the degrees marked off on the scale inside the cover, right? If you take the plugs out and on the centerstand put it in fourth gear and move the rear wheel forward to
rotate the motor, then watch until you can see the mark of the alternator rotor come into view and line with with the 30 degree mark, this is what you want to see at 5000rpm.
Ok, plugs back in now, bike in nuetral.
You have a timing light now you say. Hook the leads up to your battery. Is it the kind that that has a plastic clip that encircles the spark plug wire, if so does not matter which plug wire
you choose. You have the forward little primary inspection plug out so you can shine the light in there, is the light flashing, working, at this point?
If so, then have an assistant bring the rpms right up to 5000 while you keep the light shined in there, at 5000rpm the boyer is fully advanced so this is when you should clearly see
the mark on the rotor line up with about the 31-32 degree mark on little built in scale on the inside of the primary cover.
If the timing light cut out before at 3000 rpm it may be simply because the vibration caused either one of the batter leads to come loose, or the thing fell off your plug wire.
Try it again, and let us know what you can see it is timed at now.