It is certainly possible that the carb is the issue HOWEVER there are other possibilities that should be covered first:
(1) The first diagnostic test on even a rebuilt engine is a compression test. If the engine has a burned or sticking valve NOTHING else one does will matter.
(2) The symptoms posted are a classic symptom of a pertronix conversion instead of points. In fact, even though 50 years of training says compression test first, I would be tempted to pull the cap and look to see if a pertronix was present. (Actually, if it were my vehicle, I wouldn't have to check, as I would KNOW there was no pertronix in my distributor!).
(3) If good compression, and no pertronix, then the third item would be testing the spark when the engine is hot. Old coils can go non-linear in the secondary side, which kills the voltage. A perfect carburetor and low plug voltage will run rich.
(4) If one through three pass muster, look at the fuel delivery system. Electric fuel pumps are great for eliminating vapor lock, and filling an empty carburetor for easy starting. Virtually all of them produce MORE pressure than the carburetor likes. With the proper fuel valve installed, the W-1 will handle maybe 4 1/2 psi maximum. With too large a valve from a generic kit, maybe 3 psi. And the $29.95 dial-type regulators sold in the FLAPS are useful only if you have a strong right (or left) arm, and a rabbit issue in your garden!
(5) If compression, ignition, and fuel delivery all pass muster, then it is time to look at the carburetor. If you truly have a 1949 carburetor, I would suggest patience and locating a 1948 carburetor at a swap meet or on-line. Parts for the 1949 carburetor, while available, are contructed from verypricium! As mentioned above by both Don and OJ, the 1949 is a year by itself, and the accelerator pump is unique. Since there is virtually no demand for a unique pump, the pump must be custom-made. We do this, but VERY time-consuming, thus costly.
Jon.
