Maz,

What is your starting technique??? especially for the first start of the day... Your settings are ok to start with but that doesn't mean the motor is running correctly with those settings....

If everything is tuned correctly and plumbed correctly...

The first start of the day should goes much like this...

Fill Tank.
Turn on choke
Turn on Ignition
Flip till the engine pops... (This is determine by how well tuned the engine is.) Mine pops within 10 flips on the first start of the day.
Turn off choke.
Flip till it starts. (Less than 3 flips for me. again determined by how well the engine is tuned.)

Good Luck,