ROSEY RUNS!!!!!!! (sort of)

The economizer valve depends on vacuum from under the carb in the manifold and that vacuum source feeds in a small passage beside the economizer valve and comes out in the 4th small hole up where the 3 economizer valve mounting holes are.

1) Make sure you can blow down throught this passage with a small hose pressed onto that hole, and see if you can hear the air coming out under the carb in the manifold
2) Get a diagram and make sure the spring under the economizer valve is there.
3) Make sure that the economizer valve diaphragm is not twisted and cracked

All that being said, the economizer valve being open during idle should not put gas out of the main bleeds (in the throat)

Did you measure the fuel level in the bowl with the economizer valve out? It should be around 11/16" below the mounting surface for the economizer valve on top of the carb. This will tell you for sure if the float/needle/seat are workign right or not; it is an excellent visual on the gas level. Just watch out if it overflows (if the needle valve is indeed open).