That sounds more and more like a float/ float needle issue. Lots of times the old fuel line has hardened, and is cracking off on the interior of the hose. Shards of rubber then flow down to the carb and block the float needle.When I turn the fuel shutoff to almost 'OFF' it runs like it should. I will disassemble again tomorrow & recheck the float valve, O-rings, etc.
Any fuel line used with Regular US gas must be marked "SAE J30" or it will be attacked by ethanol in the fuel.