Just wanted to post an update. I installed a Holley red pump, and readjusted the needle and seat on the primary. The pressure gauge shows a pretty constant 6psi, and so far the carb hasn't flooded the engine. I was a little concerned that the new pump runs continuously, but was told by a mechanic it's a rotor design with a bypass, so it's not pushing excess fuel. Seems to be running good so far. I still want to check into the wiring as you guys suggested just to be sure it's up to par.

Thanks to all those who replied,
mike