I pulled the top off the carb just now and verified the clip on the needle was hung correctly on the float arm. I adjusted the float height lower slightly as well. Needle was moving smoothly in and out of the seat.
I removed the old spacer as I found it was causing a vacuum leak, so now it's just intake manifold, gasket, and then carb.
I installed a fuel pressure gauge between the pump and carb, and it's consistently reading between 8-9 psi.
I swapped in a new fuel filter as the old one looked like it had been in there for a long time. Old one wasn't clogged, but it was dirty.
I also adjusted the choke flap rod to be slightly less curved. It still is not setting the choke flap in the proper position on one pump of the accelerator pedal.
The car turned on, but ran like it was on 7 cylinders. It ran for maybe 2 mins at most, but afterwards I used my IR thermometer on the exhaust manifold and noticed cylinder 1 was colder than the others. Pulled the spark plug out and it was slightly wet with fuel, double checked the gap and it was a bit wide, so I gapped it down .035.
Checked the plug wire on #1, it was fine. Checked the distributor cap, looks very clean and inside and the rotor looked almost new, very clean as well.
Tested the ignition coil resistance and it was around 12.3 from the side posts to the center, and roughly 1.5 from side post to side post.
Pulled the left valve cover and lash on the #1 cyl rocker felt the same as all the others, no indication of a mechanical problem.
Car still won't run unless it's sat for 4-5 hours, and then runs once, very poorly and won't stay running.