As Jerry suggested, I installed a larger 9" dia air cleaner. I then re-adjusted the idle mixture and idle speed screws. It certainly runs better at 70-80mph than it did before. I still have that metering rod issue in the carb, but the larger air cleaner seems to have helped a little with the rich mixture.

I guess the small air cleaner that came on it is more applicable to a multi-carb setup.

I put some more grease into the distributor's fitting. Of course, no change to the drifting timing. Now I have to decide whether to pursue refurbishing the existing distributor, or going HEI after all.
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Mater New Air Cleaner.jpg (111.44 KB, 250 downloads)

This is what happens when you live with a house-full of women, the wife and daughters name all the cars:
1960 Impala - "Frankie" (Frank Sinatra)
1961 Apache - " 'Mater Jr." (wrecker)
1965 Corvair Monza Convertible
1967 C20 "Ol' Blue" (hidden in a log cabin for 30 years)
1972 SuperBeetle Convertible - "Juliet"
1976 SuperBeetle Convertible - "Olaf"
1988 Alfa Romeo Spider Veloce - "Romeo"