well actually to a certain extent, yes you could reduce or increase the cfm of a carburetor. Lets say you have a rochester qjet, or a holley 750 dp, you could install leaner jets, different accelerator pumps, secondary metering hanger and rods and basically make it run leaner. Although qjets scondaries flow as much cfm as needed on the engine, so if you have a stock 305, 307 it will only open almost half way, but if you have an engine that makes twice or three times more power than a stock 5.0 litre than those secondaries will flow more cfm, about as much as the engine needs at wot. With holleys, you could always reduce the size of the main body, jet sizes, accelerator pumps and such. These are petty modifications that only increase or decrease the cfm ratings by very little, so getting a proper carb for your application is best.