I had one like this when I younger, dumber and broker...The Holley 2 bbs. develop warped air horns because the air cleaner hold down rod doesn't fasten into the base, but rather just fastens into the air horn. So when folks tighten the air cleaners down and go through heat cycles the air horns slowly but surely warp, and then the vacuum is lost that pulls the fuel out of the metering nozzles. But Autoline rebuildiers that Rock Auto uses know about this and they have a technique to press the air horns flat again and surface them so the problem is fixed. I haven't had any problems with the Autoline rebuilds from Rock Auto and suggest you invest in one of them. Your problem is typical of that problem along with substantial stumbles and surging on light accels, if it even keeps running. When you put one on though, do not tighten the air cleaner down any more than absolutely necessary to prevent a recurrence.
The air horn was cracked and deformed enough that looking down the carb while working the accelerator the fuel just trickled down the sides and never sprayed at all. Being a broke guy with a rebuild kit and very little budget, I patched it back together with epoxy. It passed emissions and ran pretty good for another year before it had to be replaced. I honestly can not recall which carb it was... dumb design, not passing the stud through to the body.
At wide throttle openings the additional fuel is delivered by either metering rods or a power valve. Look here for basic circuits explained... CARBURETOR CIRCUITSCan you tell me what a power valve is? I'll google it for Holley carbs. Thanks