Just for clarification:

When you say the "float level is too low", you mean that the floats should be sitting HIGHER (inverted, as pictured)? It gets confusing when I start trying to think of things being inverted.

New plugs, wires, cap, rotor, condenser, points and coil (Bosch) were installed ~6-8 weeks ago. This fuel consumption thing existed before, and has persisted after, those installations. This was my first experiment messing with points so rechecking those adjustments is probably not a bad idea. I'll double check the valve adjustment as well since it's been ~6 months since I last set them. I'll pull the plugs and post the resulting pictures.

I put the lids back on without changing anything, but cleaned the bowls out. I drove around a bit and did notice a bit of fuel near seepage near one lid. Not sure if its the gasket seal or the little overflow hole beneath the fuel inlet. Also not sure if it was there before or not. It's not enough to be dripping down onto the heat shield or exhaust.

The timing DOES advance with increasing RPM. It's around 15 deg at idle, and around 30 deg. at 2,000 RPM. The ancient Sears engine analyzer I was using tops out at 2,000 RPM. Just for my own reassurance, the inductive pickup for the timing light should be on the rear-most plug wire, correct?

When working on an automatic, should all of these "at idle" adjustments (engine RPM, timing, etc) be checked in "D" or "N". I've been doing everything with the car in neutral out of habit, and never thinking to do it in any other gear until now.

I suppose a dragging brake could be slowing me down. I have new shoes, pads, cylinders, lines, fluid, and hardware ready to go on once it warms up a bit more. Will double check tire pressures.

I'll take a trip with the GPS and try to get some legitimate mileage numbers to back up my estimates.