318 bogging at high rpm, but only in first gear?

Fuel delivery. Blocked fuel filter, faulty pump etc. The fuel in the carb gets used up very quickly at WOT in 1st gear; in the higher gears, the fuel gets used more slowly, has time to 'catch up'.

Is the comp ratio low? If the engine wants 25* of idle timing, then you should give it 25*. 25* is not a lot for a modified engine. See below.

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