The loose hose goes to the EFE valve.
Check to see if the EFE flapper moves freely and isn't stuck closed causing excessive intake manifold heat and vapor lock.
I am assuming that you replaced all the vacuum lines first and looked for leaks with starting fluid to solve the whisteling issue before checking back here???
Are you sure the lockup isn't engaging at 37mph and sticking when you decelerate causing the stall?
Your problem can stem from a number of things and all you are going to get here is tons of speculation since none of us are physically there...
If the car has over 100k miles or has sat for some time in its life chances are you need to do standard maintenance.
Rooting around with your minimal changes could have cracked your dry rotted vacuum lines.
Also this is an EGR/emissions depedant engine and will run like a dream and get sufficient fuel milage if properly taken care of.
Most people are incompetent and rip the 307 out or gut the emissions equpment and slap an Ebrock carb on and wonder why they have poor performance still.
Air/fuel ratios are off and sh*t goes downhill from there... these engines were designed to compete with fuel injection and lasted until 1990.
First and foremost get a CSM.
Then...
Change ALL vacuum lines and properly route to the CSM or visit here:
http://www.gbodyolds.com/forum/showthread.php?297-Vacuum-and-Emissions-Diagrams
If it were me... at minimum change:
Plugs/wires/cap/rotor and ignition module
Change the EGR valve and clean out the EGR passages of carbon with a wire in the intake manifold, they cake up with carbon and NEED to be cleaned out. This engine is dependent on proper EGR operation.
Replace the fuel pump
O2 sensor, AC Delco ONLY, not cheap China sh*t.
Rebuild the carb
And most importantly make sure the CAT isn't clogged.
If all these are done and you still have issues double check to make sure they were done properly then check back but these need to be done regardless, its part of owning a computer controlled carburated vehicle.
Also, Google is your friend, it's best to do the research on your own and familiarize yourself with everything first before asking questions so you are aware of the lingo. Chances are you will find your answer since every question has pretty much been answered already...