Turns out there was a small crack in the rubber carb boot as well. Should I turn the fuel/air screw back to 1 3/4 turns out where it originally was, or leave it at 2 1/2 out?

 

just leave it at 2 1/2 out

 

Sounds like there is a misunderstanding here! The throttle cable should not have anything to do with the idle level - if it does, then it is too tight. When the throttle is at "idle", the throttle lever on the carb must rest on a stop, typically the idle screw. The motor should idle at the proper RPM with the cable disconnected....

 

no, polaris has a electric throttle control basically if ur throttle sticks open or too much free play in the cable, it will shut down the engine

 

Maybe this. Polaris ATV Thumb Throttle Maintenance Tips: Polaris ATV Maintenance & Repair Tips | eHow.com

 

I had to order a new exhaust gasket & carb boot, dealer didn't have either on hand. I'll report back next week with results. Thanks to all for the advice.

 

Well, that didn't help at all. The idle speed is still erratic, varies by 700-800 rpm. I noticed my oil smells like gas too. Any other suggestions? Thanks.

 

is ur oil level high as well, if thats the case than either ur float is stuck or ur needle and seat is bad in the carburetor

 

Yes the oil level is high.

 

Anyone know how to disconnect the throttle at the carb on an '04.5 500HO? It's not the slide type throttle I'm used to, the throttle is on the right side of the carburetor. thanks.