Hi, let's assume the car is in a good state of tune and the brakes are not dragging. The best way to determine the miles per gallon is to fill the gas tank until the nozzle clicks off. Write the mileage down. Drive until the gas is down to 1/4 tank. Fill the tank and write down how many gallons it took. Subtract previous miles from current miles, this number is the miles you drove. Divide the miles you drove by the gallons used. Lets say you drove 175 miles, and used 11 1/2 gallons of gas. 175 divided by 11.5 is 15.2 is miles per gallon. Good luck
I would do this three times (if possible) to get a decent average as humidity, temp, wind, and other weather conditions can effect the numbers.... not to the point you should see '10mpg' but could knock you off once in a while.
I would definitely recommend what Bubba posted earlier, however I would add the following:
What does your transmission fluid look like?
is there any grinding or howling noises from the car as you drive?
when you get out of the car after a drive, touch all four wheels (the metal part): are any of them hot?
transmission fluid color can be an indicator, but not an end-all/be-all, but a decent place to start if all else fails.
grinding or howling noises are indicative of bad fluids, or bearings, sometimes both, bad grinding sounds or metal-on-metal grinding could also be dangerously worn brakes grinding away at your car. if this is the case figure out where the sound is coming from, and fix whatever the problem may be.
if the wheels are hot after a drive, you have a brake dragging, and need to look through your braking system to figure out why.
if you aren't sure how to tune the carbs' idle mixture screws: my grandpa always recommended having individual vacuum pressure gauges on each carb, set one's idle mixture screw where you are getting the strongest vacc from it; and then set the other one as close as you can get to matching the vacc gauge, if you can't get them to match within a coulple PSI, dial the first one back 1/8 of a turn, then try to balance them again. on 3 carb setups he always did the middle carb first as it would have the largest effect on the engine.
I, Myself, heve never done this; however I am putting this here as he was an ASE mechanic for 40 years, and ran two cars on the St. Louis car show circuit for 20 of that, and was a member, and technical advisor, to the Gateway Ford Mercury car club. If this is not the way to do it, I am sure Bubba or B RON CO would tell us.