Hmmmm, is the float level too high ?? Yes, the rod adjustment screw is the one in the "triangle" as you pointed out. When the car is running, vacuum pulls the rods down (with the stepped rods in the jets, this effectively changes the size of the openings (i.e. lean or rich). . . the screw allows adjustment of this . . .

Rather than playing with it too much, is there a shop nearby that has a mechanic that knows carbs (not many of the breed left !!!) and would be able to hook it up to an exhaust analyzer ? Then you know for sure that you are adjusting things correctly.

Is the choke on ? Oh sooo many questions . . . check out the attached link :

http://carburetor.ca/pdf_manuals/Carter/1972TQmanual.pdf

TQ's are great carbs, but really need to be adjusted in sequence . . . happy tuning. . .

Cheers

Mark