Before you open up the carbs:
1) Make sure your odometer is working. They are notorious for failing, and that would throw off your calculations
2) It's always worthwhile to make sure that you have a strong spark. When I replaced the original coil, plug leads, and plugs on my bike, the idle jumped up noticeably.
3) Make sure the enrichener (choke) arms fully return with the handlebar lever in the off position
4) Check for any air leaks around the carbs
After you take the carbs off:
1) Do a compression test if you can. Engines with poor compression use more fuel. I think around 150psi per cylinder is good.
2) The jet needles (the pointy bits, as opposed to the needle jet--the brass tube) are adjustable, but I don't know if they bike would even run with them on the wrong setting. Again, don't have the information off-hand (it's somwhere on this forum), but you can check to see that they are at the stock setting. They have 4 settings, and each is a pretty drastic change. While you are in the carbs, make sure that the jets are still the factory size. (again, seems odd it would run right without an opened up intake/exhaust, but worth a check)
3) Make sure the enrichener discs are not insalled backwards, which will mess up the mixture. Snowbum
www.bmwmotorcycletech.info has an article on this, with pictures
Other thoughts:
A seriously high fuel bowl level could also cause you to use more fuel. A really rich idle mixture can use more too, but I kind of doubt that either could rob you of 20+/- mpg, nor let the bike run sweetly with such poor economy
How fast have you had the bike? Any idea of top speed/revs in 5th gear while holding a particular speed? It's possible the final drive or 5th gear have more reduction (higher gear ratio) than stock. Either would reduce fuel economy