I've had lots of SUs and they all leaked, so the following is from years of experience fighting with them. I recently had mine rebushed, so if there's any indication of throttle wear, I recommend rebushing instead of forever messing with them.
While air leaks near the throttle shafts can cause a mixture that is too lean, the extent to which it causes problems is not consistent and varies depending on engine speed. Accordingly, when someone tries to adjust an SU with an air leak, they often get a mixture that correctly compensates for the air leak at idle, but is too rich at higher engine speeds.
You can't tell if you have a leak around the throttle shafts by looking or jiggling them, unless it's really, really bad. The best way I know to check for a throttle shaft leak is to buy yourself a can of Gumout. With the engine running at idle, spray Gumout around the throttle shafts. If there is an air leak, it will suck Gumout into your carbs and engine speed will drop appreciably. If there is no drop in speed, you have no air leak and your problem lies elsewhere.
Gumout is also good for cleaning the carbon deposits from the carb pistons and carb bodies so that the pistons move up and down freely. They should move quite easily by hand, with some dampening if you have filled the damper pots with the appropriate oil.
All the piston lifitng pins do is lift the piston a particular distance. (I forget exactly how high it is, but it's around 1/16 of an inch). If you can't find yours or they are gummed up, you can just use your finger or screwdriver to move the piston up slightly and acheive the same effect.
While a black tailpipe might be common, too much crap flying out of it is not. Get the car up to a decent operating temperature, and put your hand (or a piece of white paper) about 18 inches behind the tailpipe. If your hand or the paper get covered in black crap, you're definitely running too rich.
The best way to check whether you have the appropriate mixture is to pull your spark plugs and check for deposits. Pull all four plugs, put them back in, then drive at normal conditions for fifteen minutes or so, then immediately stop the engine and pull your plugs. If they are black and sooty, it's too rich; white crumbly deposits means its too lean. The right mixture should leave them clean and a nice, healthy tan color. You only need to pull the #1 and #4 cylinder plugs to check, as they will correspond to your front and back carbs, respectively.
Good luck!
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Dennis
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