The Holley has adjustable float levels, which are probably too high. The nut and big-headed screw on top of each float chamber controls the float level, and the plug in the side of the float chamber is at the correct level for the floats to be adjusted. Loosen the screw at the top of the adjustment assembly, and turn the nut CW to lower the fuel lever, or CCW to raise it. Remove the sight plug, and adjust the level until it's just at the bottom of the gauge hole. Have some rags handy- - - -there will be spillage! There's only one good use for a Holley- - - -wide open throttle racing.
The idle jets are full lean in the CW position. The fact that the engine runs at all with the idle adjustments bottomed out tells me you've got a severely too rich situation going on, either float levels too high or damaged needle valves.
Jerry
