Hot Fuel Lines
A couple more thoughts about what happens to the remaining fuel.
The portion vaporized was the portion that helps initiate good combustion. If it doesn't get sucked into the combustion chamber as vapor (like when I took the top off the air cleaner) then its like trying to start a campfire without tinder.
Also if the fuel is partially vaporized before it hits the bowl, then its not getting pushed through the carb's passages...
Lets say the fuel actually hits 150*F at some point and the fuel distillation curve looks like the E-8 here, then 30% of fuel is vaporized before it gets to the intake!