Is it a triple? I know my 98 Vmax 700 doesn't do all that well, and when I get on it even worse. But it's expected from a triple. However, if you're only running a twin, then perhaps your jets are incorrect, which would make your machine run very inofficiently, and burn a lot more fuel. Other than that, maybe it was bored over more in it's earlier life.
2005 Arctic Cat F7 EFI EXT - High flow intake tube, Rumble Pack. Soon to come; 2" Paddle!