The Mr Gasket fuel regulator isn't calibrated to psi. In other words, 1 doesn't mean 1 psi and 5 doesn't mean 5 psi. It's just an arbitrary gauge that raises and lowers your fuel pressure. The output is solely based on the fuel pressure from the fuel pump.
If the pump is putting out 10psi and Mr Gasket is set to "1", you may be reducing the pressure to 6 psi or 2 psi or something else. Who knows?
The 216 is supposed to operate at 2-4psi. 235 might be slightly higher. Measure it and see what you get. If it's working properly, then your carburetor is the culprit.
