wow thats high!no mention of missfireing,so I'll assume valve clearances ok,but dont discount at this time a compression test would'nt hurt.I would at this point go for a carb strip down looking for faulty diaphrams or blocked air jets.renew carb to inlet gaskets and reset mixture's and float heights(faulty float also a possible)either way its massivly over fueling.what are you getting 15-20 mpg?also possible leaking vacum hoses/lines that someone has compensated for by altering the mixture.dont forget to check engine breather.a car this age it might be more cost efective to replace carb with a good unit from a breakers.
caine
August 2008