I still have / drive a 74 IH 200 4WD like that and they run pretty hot under the hood. On a hot shutdown, the under hood heat would build enough pressure in the fuel pump to carb pipe to force fuel past the float valve in the Holley carb, meaning that they tended to flood after a hot shutdown and took a lot of cranking to clear a hot flood. A fuel pressure regulator installed right at the carb would not allow more than 5 PSI to reach the carb which pretty much eliminated the hot flooding problem. I never noticed that they would restrict / starve fuel to the engine unless the internal screens in the regulator were clogged. The regulator did a pretty good job of reducing the flooding problem, but did nothing to help the normal 7 MPG the 392/4X4 / 200 IH pickups made ;-)
