After reading the reponses I got, I tried out the cruise control again on a few good days we had this week. Symptoms include 1) When I hit the set button, the "set" light comes on. But when I let go of throttle, it drops 5 mph then pulls it back up to set speed. I tried hitting the accel button, but no help. I tried holding the throttle steady till the computer "took control". No help, even if I hold the throttle for a minute, when released speed will drop 5mph then pick back up. 2) CHECK THIS - after bike is properly cruising on its own I tap the accel button, bike SLOWS DOWN 5mph THEN ACCELS 6mph. 3) if I tap the "coast" button, the bike slows down 5mph, the accels 4mph.
I talked to service manager of dealer where I bought the bike used. He said it sounded like a cable adjustment, and "adjustments" were not covered under warranty, only "parts failure". He did offer to call Yamaha on Monday though. We will see!!
I would not think cruise controls adjustments a "typical maintenance adjustment" like tire pressure, oil level, brake pads, etc.
Who has had this problem, how was it corrected, and was it warranty?