Went back and read through the later postings. I still need to diagram your cam. LSA is closer to 110 which is good. The lift isn't too crazy, going 1.6 ratio on intake would be similar to .550 - .560 I would have to do the math later.
So with WOT and keeping the restriction of the choke, you stay around 5in/hg. You basically got a DIY power valve going on that's keeping the overall inflow air rich. A/F gauge would line this out very quickly.
So basically...
More fuel. Open up the pickup jet... You get a little more fuel... Stay a little bit richer.
OR
Reduce air flow. Swap out 750 to 600 Carb. Reduce primary bore size to 1.44... Increases air speed, strengthens vacuum signal, picks up the extra gas it needs, but reduces the excess air that was keeping it lean. Secondary Bore stays the same, so shouldn't be any changes there.
The other thing I see as a sidebar to this is, I don't think you have a 10.4:1 engine, with what we have seen with timing and it's responses. Just not sure yet, wet/dry compression test would show this.