I have a lunchbox on, and I just noticed today that the cylinder head breather hose has smoke/steam coming out of it.  Is this normal?  It doesn't smell like anything is burning, and my oil level is fine.

Also does my idle sound fine?  I am doing a valve check this weekend because I think that may be the cause of my hanging idle.  Also occasionally at idle I will hear a popping noise, almost like a bubble bursting coming out of the carbs I think, or somewhere near the engine and irregular levels, and it does not happen all the time.  Carbs have been rebuilt, fully cleaned, new gaskets, float heights good, etc..

Here is the video, and I forgot to turn the camera sideways.  Whoops.

http://www.youtube.com/watch?v=zE8Ts3cqeEw&feature=youtu.be

Maybe it is just condensation build up and burning off?

As for hanging idle, pull off and clean the carbs, adjust your mixture screws and reset your idle. Then sync your carbs