Earlier today I was riding my 83 vt 500 and I ran out of fuel, ok swithed to reserve and the power that I had was no longer available.
Yesterday my friend and I had cleaned the Carb an found the wires that were coming from the battery and the points had been burned out at the connection. We replaced them and the bike ran fine. Now today the problem has started all over again.
Any input would be great I am growing more frustrated by the day.
Thanks.

 

Take some pictures of the connections that were replaced. I don't know specifics about your bike, but other members might be able to help.

 

It sounds like you've got some dirt in your fuel line. Running the tank near empty and switching over to reserve may have loosened up some junk in the pertcock and the bottom of the tank. Being an old bike, I'd clean the tank, flush the lines, and replace or install an inline fuel filter.