So I got the engine running so the '41 pick-up I swapped it into was drivable. I took it for a drive about six miles and at first it wanted to die at idle but it had good acceleration for about three miles, then it wouldn't accelerate at all for the rest of the drive. It ran out of gas at about a mile or so and was re-fueled, if that matters. I re-set the timing the next day just in case it could have been off and then took it out again and barely made it around the block.
To me it seems like something is amiss in the Carter W-1 carburetor I have on it because when I press down on the gas pedal there is a loud hissing sound coming from it and it sounds like the air cleaner is shaking. I don't know if this carburetor is even worth using on this engine given that it originally had a Rochester 1 bbl. on it that was 15 years newer. (I switched back to the Carter because I had to use the 216 intake/exhaust manifold to fit the engine in the truck.)
My questions would be: 1) Does it in fact sound like something is wrong with the carb, and 2) If so does it even pay to spend any more time on this carb as it's already been re-built. I personally can't get excited about this clunky old carb any more, especially since it never came stock on a 1956 235 engine like I have. Unless someone chimes in here and tells me there is something simple going on I'm thinking I should cut my losses and go with the Rochester carb.