Have you gone through the distributor? Those through the head distributors run hot, which dries the grease out and makes the shaft sloppy loose and dries out the centrifugal advance. You might can take it apart and clean/lube it. If it's loose, electronic ignition is more forgiving than points.
The flat top distributor caps were used for hood clearance. If that is not an issue, a standard cap and some 90* wires will work.
I suspect that carb has a rubber power valve diaphragm inside that is long rotted away. Did you put a kit in when it was apart?
You've got to get the idle down to the 400-500 range for the mixture screw to have any effect.
Only if the compression is good will it be able to idle down properly. It may improve with some run time if the rings are sticky.
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Today's Featured Article - Earthmaster Project Progress Just a little update on my Earthmaster......it's back from the dead! I pulled the head, and soaked the stuck valves with mystery oil overnight, re-installed the head, and bingo, the compression returned. But alas, my carb foiled me again, it would fire a second then flood out. After numerous dead ends for a replacement carb, I went to work fixing mine.I soldered new floats on the float arm, they came from an old motorcycle carb, replaced the packing on the throttle shaft with o-rings, cut new ga
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