It should squirt a solid stream. These carbs are so simple I would pull the top off & check the pump piston. If it is leather it should be soaked in oil a little & softened up. If it a rubber type Make sure it is soft & fills out the cylinder. The float level should measure 1 9/32" from the gasket to the bottom of the pontoons with the air horn upside down. You might fudge alittle about 1/32 higher.
The vacuum advance is simple to check. Just watch the dist as you accelerate the engine. The whole dist should turn after you get above idle. You can fudge with the timing also by setting it a few degrees higher with the octane selector.
