I'd get the car on a level surface and run it a minute then pull the rods/top & want fuel level even with the notch in the flat metal float baffle on each side. Dry float setting is 7/16". Fix accel pump so you have immediate tip in when you touch the throttle. Assuming the original springs it came with are still in there & see the eddy site for what in hg they are and hookup a vacuum gauge to the front dr base port and run it with a rubber line to a vacuum gauge taped to your windshield to note the in hg that it bogs at. Need to use the manual choke letting it off gradually during warmup which may take 10-15 minutes or so or it will bog and force you to use more throttle which dumps a raw AP shot in to compensate which is never good for the cyls/rings. If it can be converted to an automatic choke like the 1406 I would suggest it and lightly closed at 70 deg F is a good baseline. I'd get that squared away then exp with a strip kit. I know my 1406 was pretty lean and that's on a 318 so I'm sure it'd be leaner on a 440 assuming the 1405 manual choke version is factory lean also. I'd get this carb squared away then you'll be in a better position to decide if you want to invest $$$ in a carb change and yes a properly set up TQ is a killer carb. & if you go that route it'd be nice if your intake is a spreadbore. EDIT I think the choke/A/P probs are (mainly) what's hurting your mileage tho mains could very well be too lean