thomas,
With today's gas prices, you sure don't want to be wasting gas!
On your old carburetor, there are two screws..the one you adjusted brought the idle speed down, as you indicated.
Somewhere on the base should be another screw which will adjust the amount of fuel that is mixed with the air as the engine idles.
I think a base line adjustment is 1 1/2 turns out from full in. It is then fine tuned, most times by ear, for maximum RPM.
These old engines are not a efficient as today's modern high speed jobs, so sometimes, when you are standing near the exhaust pipe, it smells like the engine might be running rich, when in
reality, it is the best the old beast can do.
If your truck hasn't had a good tune up in awhile, this could be affecting how the fuel/air charge is burned, or not burned.
Stuart