The new stuff is junk. The original Holley's were correctly designed that's why they have 2 emulsion bleeds. I have it from good authority that a properly sized Holley for the engines HP range only requires 2.
I thinks its just the limitaion of the design. If you look at how Carter does emulsion they use a tube and place the emulsion holes around the tube so as to prevent the air coalescing and causing slugging flow where slugs of air and slugs of fuel leave the booster. The question then is which cylinder gets the fuel and which cylinder gets the air.