Finally got it on the road with all 3 carbs functioning! no stalling, no flooding, no leaking, no hesitations, no choke, no air cleaners... I'll get a choke cable and having a big issue with hood clearance, so I'm not quite done yet. And I still have some adjusting to do on the linkage because I'm not quite getting full throttle. It could idle a bit smoother too.
And I haven't checked the mixture yet other than inspecting the spark plugs, but they're no longer black, sooty nor soakin' wet. It may be a bit on the lean size. So, I still got some work to do.
Adjusting the float levels on all three carbs was a major pain. The factory settings was no where near the mark; every one flooded even with a fuel regulator set at 3 lbs. I sighted them all with glass bowls ending up with the fuel level just a hair below the top edge of the rectangle.
I kept the idle circuits opened about a quarter turn on the outers and 1 1\4 on the center. That gave me the highest vacuum reading and best idle; it's still a little rough though. I also used a vacuum gauge for syncing side draft carbs and checked that both outer carbs are leaking the same amount of vacuum. Removed the power valve, economizer, by blocking the vacuum passage with a gasket cut to full size on the outers only.
Removed two plastic spacers from the power valve on the center carb because of low vacuum readings, dual pattern 264/274 duration cam and the fact that the outer carbs leak vacuum.
Removing the spacers was an educated guess, but it appears to work. There's no hesitation from cuising to load not on the freeway nor climbing hills.
By the way, you can't remove the choke plates on these Holleys especially the 1960 models with the booster built-in to the choke. Even with the 1904s the choke acts as a diffuser for the air flow.
The accelerator pump has two settings adjusted by moving the pump rod from inner hole to the outer hole. Initial setting, I had the outer carbs set to the outer hole on the throttle lever and the center carb had its pump rod set to the hole closest to the throttle shaft. This was my initial setting.
The motor would "fall on its face" when letting the clutch out. I moved the pump rod on the center carb to the outer hole away from the throttle shaft and it worked beautifully. No hesitation, pulled out of the driveway with no problems; it even chirped the tires.
I adjusted the progressive linkage by holding all carbs at WOT then moving the adjustment stops to mate up with the linkage on the outer carbs. Then returned carbs to idle positions and checked that the outer carbs opened at the same time, which they did. I did have some binding on the front carb that was solved by cutting off the lever to the dashpot. I also had to take a dremel tool to grind off a bit from the throttle level on the center carb that was draging against the manifold making it slow for the engine to return to idle.
Oh, and the T-5 allows the Ranchero to cruise 80 mph in 5th gear with a light foot into the gas pedal, no surging, no hesitations. It's a whole new car!
Thanks for everyone's advice! If it wasn't for this forum, I'd still be driving a meek 200 with a 3-speed... and probably wouldn't have spent all that money either... oh well, it was a challenging learning experience adapting a 5-speed and figuring out why a hopped-up second-hand motor with solid lifters and non-adjustable rockers wouldn't run. I now know stuff about dialin' in a cam and carburetors that I didn't know before.
There's a few more things about these Holleys that I came across that I'll share as soon as I get some more pictures.
Take care,