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I have a 79 F-250 with a 460, it acts like it's starvin for fuel. Had this happen b-4, I pulled the filter out of the carb and cleaned it and that seemed to solve the prob. It has a Holley D9TE-9510-AEA list 8343 then below that it says 1998. I put a pressure guage on the fuel pump and it's pushing 4 psi, is that enough? can't find any holes in the FP diaphragm, do you think a carb rebuild would solve the prob?...
Check the condition of the fuel lines between the pump and the tank they can get old and rotten and the pump will suck air instead of fuel. My 79 did this, the line coming out of the tank was really bad and it would only hold about 3-4psi of pressue and barely moved the gauge a idle.
-Johnboy
Sounds like a fuel problem behind the pump. There are several rubber hoses and they can get cracked or collapse all together. Check those and see what you find.