318 1/8 time improvement

That's great! Do you have a gauge on it to confirm you need a regulator? If the bog is gone, it's possibly going to come back if you regulate your fuel pressure down. Excess fuel pressure could be holding causing the floats to close higher than they're supposed to. Dropping the pressure could drop your float height and have you tuning the bog back out. But I would rather have the fuel level running were it's supposed to and then tune the carb to optimum performance. Also, is it idling with the mixture screws turned out now?