Is it me, or is 1st gear really short? On my KX I can hold 1st gear longer & it still keeps torque. On the quad, 1st is short and if I hold too long, I can feel the power drop. I've only been up and  down the block, i think the gas might be old too.

I've also notice that gas drips from the carb even the the fuel switch is in the off position. Is this an easy fix, or is it time for a new one?

Try a carb rebuild.