That ^ would indeed tend to suggest it's running rich. You might find that it has a map loaded for an aftermarket exhaust and air filter, which we're removed and sold before you got the bike, which in turn might mean it is running a richer AF ratio? (Quite why they wouldn't sell the PCV as well would be slightly odd though.)

What you're probably best doing (after checking the map that's installed) is getting it on a dyno and having a custom map built. Even with a bog standard stock bike, you'd be surprised what can be corrected/achieved with a custom map. All depends whether you have the spare time/money though...

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