23hp vanguard just runs bad

386447 3079. Acts like it running rich. Fuel pressure (remote electric fuel pump) is 8psi static, drops to below 5 running. Valves adjusted. Coils check out. Compression is L175psi, R 165psi. New float kit. Holding the carb level in my hand, no gas runs out with fuel pump turned on.
When I clamp fuel line with Vise grip I can get it to run up to throttle setting, but then backfires like running lean. Timing (ignition) looks to be close compared to TDC when setting valves.
Almost out of check points here. Going to check flywheel key and wiring in the kill circuit. Turning the key (re mote key location) off does not kill the engine. It kills the fuel pump so engine runs until it is out of gas.
Am I missing something? V-twin are bigger than I used to.