Most ST11s that I know of tend to smell rich when you ride behind them. Just seems to be the way they are tuned.. Mine ran really rich in the mid range when test on a dyno, but after replacing carb bits bike goes about the same, fuel economy the same but less of the rich smell. If fuel economy is ok and oil usage is ok, I would not worry too much. Checking tappets when they are due, and changing air filter and plugs when due probably won't make a meaningful difference - a plug change is usually indicated when starting is a problem. But you should do the regular maintenance items sort of when they are due, but the ST11 will still go on even if you don't. Fuel filter is the only item I should have changed earlier as it did case some running problems, but even then that was at 160,000kms plus.
Even if you just rode the bike until it stopped from shear neglect, that would be many thousands of kms - I do not recommend this though!