Turned out to be the hose running from the valve cover to the carb baseplate. Replacement eliminated the sound.
The engine runs at 180-190 F when cruising, starts decently, but idles a little rough, at least until it's warm (crossovers blocked, so that's to me expected). When cruising it gets very "loud" and sounds like it's sucking a lot of air at anything below 1100-1200 RPM. A lot happier at 1500 RPM. Downshifting in all gears results in choppy motions at around 1100 RPM, like the engine's stalling (which I guess it technically is, when you downshift hard enough?).
Thinking about getting a wideband O2 sensor to aid me in tuning.
The only modifications I made to the 77 carb was drilling out the upper idle air bleeds as prescribed by recipe #3 - everything else was already up to size or bigger than suggested.