Timing question 318 with LD4B

The carburetor certainly DOES care about fuel pressure.
The question was;
Is it possible the gauge isn't working , or more probable that the fuel pump the previous owner put in is this low of pressure? Could that low of pressure cause the backfiring when letting off fuel?
I wrote;
Your carb does not care about fuel-pressure.
Your carb cares only about one thing, that the fuel level is always correct.
Fuel pressure is used to push the fuel to the carb against the closed or nearly closed float valve. Two psi when stopped and idling will be just fine. You can gravity feed that carb at zero psi when stopped and idling, and it will idle all day.
OP added
It is idling closer to 1000RPM which I knows is too high. And it still stalls as soon as you let up on the gas. I will check and set the timing better this week. And I will check for vacuum leaks. Thanks
Notice it ran fine at 3000rpm on two psi. What I said is exactly correct.