The selector itself. They have the tendency to go bad. My old one would not seal. I had to pull it out, and blow right into it on the off setting, and it was letting air thru. Switched it to ON and it would leak out the RES port. Had to replace it.
You should go through your fuel circuit system and narrow down where the fuel stops running. I had to do this before. If you find the fuel circuit is working, then you know you had a carb issue.
I use a beer bottle, and start with the first part of the fuel delivery - the line coming off the tank and into the fuel selector IN line. If that's flowing, then move to the OUT line of the selector. Pull the OUT line of fuel selector, and blow into the carb return line. Gas should come out the selector.
If so, move on to the next part - the water seperator/filter. pull the line feeding the filter, blow thru return line. Should flow. If so, plug it back in, and pull the OUT line of filter. Blow in return.
If the above are flowing, move to the final line - the one that feeds the carbs. Pull this off the bottom of the carb. Blow in fuel return line. Gas should come out. If it's dry, you have to give it some time to cycle thru the 20 feet of line, but it will come out.
This way you can eliminate each part of your fuel delivery system.