These suggestions are out in left field, so feel free to ignore them.
First, you're still reporting low mileage for the amount of gas that the bike is consuming. We assume that the # of gallons that you are pumping is accurate (that the gas pumps are correct), but what about the distance you are traveling? Some bikes have relatively-accurate odometers from the factory, but that's not a given. And a lot of people will change out sprockets to increase acceleration - but at the cost of higher engine speed at any given road speed (and also affecting the odometer accuracy, if that is driven off the rear wheel / drivetrain). You may want to run 100+ miles on the highway, using the highway mileage markers (or using a GPS), and then see how much gas you used. You may find that your odometer is off, and that your mileage is decent.
Second, are there things that could be affecting your rolling resistance? I assume you're not riding around on 15 psi in your tires, but it would be a good idea to double-check your tire pressure. Also, check that your drive chain is properly lubricated & not adjusted too tight. And check that you don't have any issues with one of your brake calipers dragging. (If you put the bike up on the centerstand, with the rear wheel of the ground, and you leave the bike in neutral with the engine turned off, how freely can you spin the rear wheel by hand? How much resistance do you feel?) While I'm thinking of it, it couldn't hurt to check front wheel bearings & rear axle bearings, too - although that's not as easy to do.
Again, these are out in left field, but I didn't see any mention of these, so I thought I'd suggest them.
Good luck!
Ron
CornerCarver
Looks like there are 2 marinas on a lake just northwest of Paso Robles that sell real gas...buyrealgas.com or pure-gasoline.com ... I would not hesitate to see how it ran on real gas.
I am not saying that will magically restore the 25% you are down on power and up on fuel consumption but I know the blends that they require in your area are quite troublesome for the refineries. I would run a tank of pure gas just to see, and your panniers are taking a 3-5% hit on he fuel economy as well but they wouldn't impact your hp numbers.
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Call a few marinas in your area and see if they have pure gas or real gas available.
+1 to that suggestion. Try running an entire tank of ethanol-free gas if you can find it anywhere, and see what sort of mileage you get from that.
Also, in addition to the sites above, I find http://www.pure-gas.org/ to be very useful.
Good luck!
Ron