OK, I checked closer. I do have a steady squirt or stream of fuel. The first couple of pumps the line was not primed. The float measurement was 1 11/32". I adjusted the tang to achieve 1 9/32".
Now, measuring per the service manual, (float hanging down), I measure 1 15/16". The GM Model B carb service manual says I should measure 1 3/4". By my thinking, this would yield less gas in the bowl. Perhaps this 3/16" delta is enough to be significant?
Considering this discrepancy, what range of measurement would you suggest for your upside down measurement? Could a 1/16" make a difference?
One new development - the air horn screw that also mounts the choke cable bracket was snug but not as tight as the other three screws. When I tried to tighten this screw to be consistent with the others, the screw stripped - well, not the screw but the carb bowl casting threads for this screw. This might potentially explain the sluggish behavior I suppose - if there was an air leak there.
Perhaps my shop friends can repair this - maybe with an insert or maybe just a larger tap/screw. This is very frustrating - this is all that's keeping me from the road.
Also, the vac advance is working and the carb piston moves freely. So far, it looks like a float adjustment. I'm just not ready to believe it could be that simple... stay tuned, feedback welcome.