Bud4660 was right that the power valve adds the extra gas when you step on it. Although he was a little off on the jet size. A power valve is good for 6-8 jet sizes depending on you metering block. And that is why you see it smokes when you blow one. Hence the difference of jet sizes from front to back. Did you change back to the original paper holley gasket grasshopper ? Man you have the easy part down. You know it has extra gas coming from somewhere. You need to pressurize the carb with full bowls,ie electric fuel pump or other means. take your carb off. put the nuts back on down a few threads. put your carb back on. Look for gas leaking from underneathe the carb. Where's it coming from,front,back,left,right ? I would even set your floats low for now. You won't need them to be set normal for idle.
It sounds like you have an internal leak.
