thanks Mike - back in 2004 when i first got it the carb worked fine for it.. so i know it COULD work for the car. Ive been convinced now that an adjustment like what you stated above would be a fix that would work. I believe the gaskets will all be OK since it WAS rebuilt not too long ago.. but im betting float, power valve, or jets need some help.
Power valve is very common on Holleys. One backfire and it's toast. The old floats can leak and fill with fuel which floods them. Float adjustment is easy on the Holleys. It can be done externally.