@sixtseventwo4d thank you for precaution! Honestly, didn't even think about all the possible vapors
@63 Sprint I totally understand what you are saying about mechanical fuel pump and pulsating fuel pressure. It did make me think about putting in an electric one. Not set on that yet. The link you shared is for pump with 2-4.5psi. Would it make sense to go with this
ONE or pretty much it's the same thing.
But, the engine ran before (not great, but it did) with fuel pressure before the carb showing about 3 psi. Now I can try I reduce the pressure on the regulator (should be set to about 2.7-2.9 psi stock) and see if that helps.
I did notice that in recent attempts to start the car, when fuel would come to the carb,
initial pressure with go up to 4-4.5 psi and then drop to about 3 psi.
I was gonna mention
@awasson, as he does have the same set up, but he already chimed in

On the other. hand, I did have problem with fuel dumping before the carb was replaced - but throttle blades wouldn't close completely and progression ports were always exposed, even at idle. And yes
@DON I did get a new carb from Redline (which is putting out too much fuel again).
So maybe my problem this time is not the carb itself, but the fuel delivery.
@63 Sprint @awasson I have taken the carb off the car and will check the float level and for any debris in there. I did put new inline fuel filter before pressure regulator this time and it seems clean so far. I will not attempt any new start ups until at least I change fouled oil and filter. And might try to start it again with my old non adjustable rockers (just to exclude this possible problem with adjusters).
Now that I'm thinking back to when I was trying to start it and it was flooding yesterday, I can clearly hear liquid coming down somewhere inside to the oil pan. Didn't pay much attention to that at the moment, as I was thinking it's just oil dropping back to the pan. But I have a feeling that was gas leaking down the cylinders. And again, why is it only cylinder #6 was full of gas and all others were just wet?