bogging at high speeds

The first thing I usually ask when a question like this comes up is, how many miles does the engine have on it? If less than 200, give it a chance. 2 to 300 is about right to consider an engine broken in if we're talking about a Chinese 2 stroke which I assume you have because it has the NT carburetor.

When the fuel ran out you were in a lean condition. Increased power is normal but you can't run it continously that way because you'll damage things. If the engine is surging then my guess is that you're running on the edge of too lean.

Keep in mind that the clip position on the needle only controls fuel flow at or below about 3/4 throttle. Anything above that and the main jet determines how much fuel the engine gets.
It's not common for one of these engines/carburetors to run lean out of the box. In fact they're usually on the rich side requiring that a smaller jet be used to get optimum performance. Nevertheless, going back to milage, unless you have over 200, don't worry too much about performance until you do.

I run Opti-2 also and know that plug readings can be a bit nebulous in that Opti typically displays only shades of grey but I shoot for a medium shade, not wet, and not too light.
But a few spark plug readings might tell you where you need to be. At what fuel to oil ratio are you running. Opti should be run at the recommended 100:1. Anything more than that and you're on the oil rich side which can dergrade performance.

Tom

What is the altitude difference between Santa Barbara and Santa Cruz? By that I mean are you higher or lower measured from sea level? Altitude plays a big part in the way an engine runs. The higher you are the less dense the air so you'll have to go a little leaner with your fuel to air mix. Lower altitudes require a bit more fuel due to the denser air.

If there isn't a substantial difference I'd start looking for an air (vacuum) leak in the intake circuit. That can cause a lean condition because the engine is getting more air than it needs.

Tom