DO a fuel system flow check... make sure its flowing
good... the heads were on your smaller engine and it
ran a better 60'... the bigger engine is wanting more
head flow... put the extensions on the carb.. make sure
you have enough room above the carb for air flow... which
intake are you running..the M1 for the W-5s with a adapter
EDIT
Raise the pressure up... max of 7.5 psi with a known good
gauge... usually above that and it will push the needle off
the seat and flood it... you could be running out of fuel on
the whole run(it has just enough to run but on a VERY low bowl)
also.. dont use a oil filled gauge... the oil heats up and gives
a bogus reading... if yours is filled just drain it and put a
hoe in the fill plug so it vents