X2 what Tory said, not a huge difference. Heck, I remember the hot little liquid 340 that Polaris had in the TXL in the late 70's and then the early 80's TXL Indy came stock with VM-38's. I know that motor what a hot little Revver, but 38's? Wow. The TXL didn't do too badly in cross country racing, for sure.
If you don't have the stock #s for the stock VM-32 carbs, here they are:
Pilot 25
Main 140
Econo 130 pto, 120 mag
jet needle 6DH7-3
Air screw 1.5 turns open
It's interesting to note that the liquid 440 Invader has jetting close to that, even though it uses VM-36 carbs and revs up 800-1000 RPM higher than the Intruder. The only difference being the Invader uses 150 mains, 30 pilots and a 6DH4-3 needle. The power jets are 120's on both carbs for the Invader. A fan cooled motor typically sees the PTO cylinder run a little hotter, since it's further from the fan.
Any motor, at a given RPM and load, will draw in X amount of air. The VELOCITY of the air thru a larger carb will be slightly less than a smaller one. The increased velocity thru a smaller carb actually creates a better vacuum, signal, draw,...whatever you want to call it, and pull the fuel thru the jets better than the slower air flow thru a larger carb. For this reason, I'm bettin' you will need to go with slightly larger jets in the VM-34's. Probably about 10% as a guess. So, maybe 155 mains, 140-130 econo jets. You can probably try 25 pilots, it ought to idle well with air screws out from 1 to 2 turns open. You can always bump the pilots up to 30's if you find it idles best with air screws less than 1 turn open.
This is all assuming all is well with the motor....compression, good crank seals, and rubber carb boots, etc.
This is all a real shot in the dark on my part...always go rich with the jetting. I don't care if it coughs and hacks and burbles because it's too rich. You can always move back down with the jetting. Running lean really sucks when the pistons start melting