Hey downdraft,
I solved the problem a few weeks ago and "yes"part of it was defiantly the float bowl level being too high. Under hard braking the carb was flooding the engine. I don't have vacuum assisted brakes so that wasn't an issue. After replacing the carb to the correct Demon model (Mighty) and adjusting the float bowl level, the car now runs perfect. I actually runs so well it's almost like it's injected.
--Mike