well, when one cylinder is taking in mixture, the other is completely closed. so essentially the carb is never doing work for both at the same time.
it would start struggling higher in the rpm range as the time between intake cycles on either cylinder isn't long enough to allow the air redirect/stabilize itself... hard to explain, but in short the mixture becomes turbulent as it tries to move between either cylinder. larger carb helps remedy the issue slightly as you can make the manifold diameter greater leading to a drop in manifold pressure (technically, vacuum), but really this defeats the purpose of having a single carb (from a performance standpoint).
DISCLAIMER: This is all speculative, and works in theory and most likely in practice, but I personally DO NOT have experience trying this on a parallel twin... though I had helped my cousin get a manifold made for a 2 into 1 manifold on his big S&S twin, its a totally different ballgame (to an extent).
i know a while back another member here had run his 350 (or 360?) using only one stock carb... can't remember who? anyway, if i remember correctly his practice of this lead to a similar conclusion that I would expect; nice and torquey, but lacking wide open power.