OK, so I'm running a stock Nikki carburetor, a Holley 12-150 fuel pump ( http://www.holley.com/12-150.asp )

and a MR.Gasket fuel pressure regulator set at 5.5 PSI. I tried setting it lower and it seemed to cause more problems.

Should I just connect the fuel line coming out of the fuel pump directly into the carburetor?

The car doesn't want to rev anymore. It will hold idle erratically, but when you try to rev it it wants to stall out.

 

You should run 2-2.5 psi for a Nikki....

 

Ill set it to 2 PSI from a cold start and see what it does.