So many different opinions on what the TORS actually does. All I know for sure, is that it does NOT shut off fuel, but controls ignition. That said, I don't know to what extent it controls the ignition other than if it sees thumb throttle closed, and carb switch open, you are FUBAR.
The TORS doesn't normally have any issues other than the switches getting stuck. It has a crappy reputation but is really a great safety feature. I've been on a couple of big bore bikes that decided to hang up at WOT and I wish I had TORS on them!
If you can use an OHM meter, just pull the side cover off the TORS at the carb and top cover at the thumb throttle and test to see that the switches open and close (mechanically and electrically) as they should. If they are, My guess is it's o.k. If you switch to a different carb, you have to do a TORS delete anyway, so may as well start there. Also, if you switch you have to get rid of the oil injection set-up and run pre-mix with most carbs.... if you're keeping it stock, the 26mm is just fine. I do run a 30mm on mine and it is much better than the stock one.... but if just want it to run, get it dialed in with the stocker first...there can't really be anything wrong with the carb except its all gummed up.
Airwave brings up a good point though. We don't know how long this was sitting, if the reeds are o.k. if the rings are o.k, if the seals maybe dried up and it's sucking air etc etc.
Do a compression test, spray some brake or carb cleaner around the crank seals just to make sure they're all o.k. and cover your other basic checks first since this thing is all dried up. Lets see where we are at. It may not even be all carb related.