Yep, I agree, go with an HEI. I have seen many on Ebay for $40 and come with brass terminal cap, rotor and 50K or 65K coil which is plenty for any mild street/strip enigne. And that if for Brand New units too. Many times, like someone did your carb, people spend a fortune on MSD or Mallory ingnition systems and they just aren't needed and making the improvment people THINK they are making.
I also agree the 750 is to much carb for a street small block. However, since you already have it, if you know someone good with carbs, have them rebuild it for you and maybe de jet it. Put smaller jets in it so it doesn't run so rich, save you some fuel and take advantage of the bigger 750cfm air. The motor will only use the air it can handle so no waste there. As far as the gas being wasting, just dejet it so it doesn't put so much gas into the mixture. Chances are if your carb has a flat spot, I'd be willing to bet its the power vavle. Very common in Holleys, one good backfire thru the intake, and it can trash the power valve. You get to it by removing the front float bowl screws, pull the bowl off and the metering block. The power valve is threaded into the metering block. Replace that part, put it back together and your problem is likley solved. Not sure now, but I think power valves are like $12-$15 or so.
