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I have a 1978 F150 4x4 Heavy Half ton Extended cab with a 400m in it (rebuilt, 31k miles). I just bought it 2k miles ago. The emissions are intact and working (passed just fine).
When the engine gets hot, it lopes. Runs great when cold, but doesnt take long to start loping. Yes, I'm running the AC (live in Phx!), but even does it when AC isn't running.
I've checked all the vacume lines, and can't find one not attached, but figured that if one was off, it'd run bad cold, too.
If it has a steady lope, I would suspect a dead cylinder. While it is running, pull each sparkplug wire off and put it back on. Each wire should make a difference in the way the engine runs. If one wire doesn't make a difference, that is your dead cylinder. If the engine doesn't have a steady lope, but more of a random shake, I would suspect egr, vacuum leak, idle adjustment, etc.
retork the intake bolts. spray some carb cleaner around intake, carb, if engine idles up correctly while you are spraying carb cleaner, then you have a leaking intake gasket, if it does this around carb, well....you get the idea
I assume you have found solution by now. However, I have found solution to similar problem on 351W with Motorcraft 2150 carb. There is an enrichment valve under bottom of float bowl, which, if leaking due to deteriorated diaphram, will allow fuel to be sucked into bottom of carb barrels. It probably takes buying a carb kit to get the valve.
I just rebuilt the same carb last night using the kit and it does not come with the valve you mentioned. just seal and rubber parts and stuff. sorry, if that is it then, new carb?
That valve is commonly known as a "power valve". If the kit didn't have one, it must have been a cheap kit. You can get these seperate at the parts counter.