condensation is normal, its a byproduct of vaporising fuel.(turning a liquid to gas takes energy) nothing to worry about unless you run in sub-zero temperatures... ie, an aeroplane?
simple test on rich/lean.
hit the choke, if it runs better with some choke...its too lean. if it gets worse, its too rich.
if it DIES or "bogs" with full throttle...too lean.
if it stumbles, burbles, wont rev, smokes, drips oil...too rich.
run a ngk b(r)5hs. give it a good run at full throttle, use the KILLSWITCH to stop the engine whilst holding full throttle. check the plug.
if its black or dark brown, too rich. if its white, too lean. if its bordering on white to tan/biscuit...its just right.
oil ratio will affect plug chops, as will having a plug thats too cold (ie a 7 or 8)
personally, i would go about 55 on the main. most of mine have preferred 50 to 60...