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Susan from Southern Automotive was kind enough to set me up with a tech I talked to their tech and they asked me to see if I could see two rubber nipples on the carb. I only found one. Anyway, they think it is a vacuum issue. Here is the list of possible causes that I have consolidated here (from this board, other folks, etc):
1.) Throttle plates interference with the intake or gasket
2.) Review the linkage movement slowly to ensure proper travel
3.) Secondaries are stuck open
4.) A high float level along with throttle plates open enough to handle the xtra fuel can result in high RPM
5.) A leaking power valve can also result in high RPM
6.) A vacuum leak anywhere below the carb will add enough air to the fuel to cause high RPM
7.) Timing issue with the MSD control, advance went wild
8.) Missing rubber nipples on Carb causing vacuum issues
9.) Fast idle cam on the carb: It is part of the choke and kicks in when the choke is set. Look and ensure that idle stop is resting against the idle screw.
10.) A needle valve not seating fully causing the float bowl to overflow. You can take a hard rubber hammer and tap both float bowls. Sometimes this will free the stuck needle valve.
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