Are you good with adjusting chokes? I had the same problem when I first got my car. Essentially, with an "engine cool" condition, molecules of air are more dense, and closer together. Just like oxygen molecules are further apart in an "engine hot" condition, which explains why it runs well when warmed up...its literally "warmed up, and so are the oxygen molecules, and that makes them more spread apart. Your carburetor is set up for an "engine warm" condition, and thats why they added a choke...More...
Thats what the choke is for, to balance the fuel to air ratio in that "engine cool" condition. Essentially, it lets less air in, or "chokes" the engine of air, to balance tahe air/fuel ratio, since the air is more densely packed by being cooler.
On a 1 bbl 170, the carb has a wire with a screw on it for the choke adjustment. You might think its not a big deal, but its huge, even with it running warm. Try adjusting it with the choke pulled halfway inside the car (the choke knob). Unscrew the screw to let the wire release, and the flap on the carb for the choke is moveable. Keep moving the flap, tightening the screw down, pulling the choke halfway, and pumping twice and trying to start. Do it again and again, and even make marks with a marker where it was before, until it starts properly in cool condition. Youll get it. That 1 bbl usually works best when the choke flap is letting only a little air in, a small gap, when the choke knob inside the car is at "halfway".
Im sure theres also some sort of gapper for the choke that you may be able to buy, since you might or might not be familiar with tuning the choke properly. They may make a special tool.
I disagree that it was the fuel pump. A bad fuel pump would make the engine run too lean under ALL conditions, hot AND cold. Especially under load, such as the highway.
Anyways, I did the choke after I got it, and it runs perfect with a half pull on the choke and two pumps. Mine ran like yours when I first bought it. Just tweaked it out. Its one of the reasons why I got the car so cheap. The guy thought there were serious motor issues. Lucky the barn didnt burn down before I got it or anything.