I went thru this 2 weeks ago to help a friend out.
The brake circuit can be ruled out as a problem by grounding the purple wire to the frame, if it works the problem is in the brake circuit. The cruise control will not turn off with application of brakes if you do this.
Verify a good connection for the blue wire and tach, I have had best luck by connecting the blue lead to the orange wire on the ECU plug under the left side cover with a powertap connector. Do a search on this for details.
Another approach is to simplify all the connection, a bunch
. Run all positive leads (red wiresx2) directly to a wire from the battery positive post, all ground leads (black wiresx2) to a wire from the negative post of the battery. Purple wire grounded to the frame or to the negative lead from the battery. Blue wire to the orange wire on the ECU plug. Verify vacuum at the servo. Verify mechanical connection to the throttle. This connection scheme has to be turned off manually, this is not safe. If it works start connecting things properly to locate the problem. You can also verify that the connections are probably good by trying to set the cruise speed on the center stand. With the gas tank up and the end of the servo cable visible start the bike, put it in gear and let the bike run on the center stand. With the servo switched on push the set button; the servo should move or "twitch" just barely. If it does not "twitch" it will probably not work on the road since it is not trying to set speed. It twitches because it is "trying" to set speed and fails.
The mechanical connections to the throttle may need to be verified visually, in person or with photos, by someone who knows what a valid connection should look like. I have seen a couple of throttle connections that were obviously wrong and had to be revised to operate.
Recently a friend of mine, a very good guy with mechanical stuff, did a very clean install. It would not work and he checked everything and spent hours to no avail. After problem solving by replacement of stuff with known good components we narrowed it down to the main harness. Prior to rewiring the entire harness I rewired the blue lead. It worked! Hours of problem solving and the only problem was a bad connection for the blue wire to the coil lead.