Thanks so much for the info and advice as to what I should do next. I checked the front of the carb and the numbers look like they are 1405 0079, (I'll check when it light out just to be certain it's not 1406 b/c that carb doesn't run as rich) and after a little research I found out that I have a 600 cfm carb on my engine. Although I don't yet know what the 0079 means. I was pretty close guessing it was a 650 instead of really being a 600, but where I was wrong was that the intake is a just a edelbrock performer as opposed to a rpm like I stated before. Now I don't know if that makes a difference in consideration to Jeffs advice, being that I might just need a smaller carb to run better. Is there a way to adjust the carb to work with my application by changing the metering rods in the carb? Also I will for sure change the oil and filter, that has totally skipped my to do list as I was just trying to get it started. Good looking out.
As for your advice Don, I'll try that out tomorrow or the next day, I didn't know I could find a leak that easily, kinda like putting soapy water on a residential gas line looking for a leak--Thanks. And hopefully my attempts to adjust the valves along with time the engine will soon pay off and I'll get it just right. To be completely honest I'm trying my best to do it myself and get the satisfaction of making it run but I'm starting to worry that I have messed it up.

I'll keep this thread updated and thanks again for the help.