Is this a street car or race only? If it's street, why aren't you running vacuum advance? Just curious. Also, Edelbrock carbs dont like high fuel pressure, and 7# is too much for that carb. 4# is plenty, although I doubt that is causing your idle problems. I would think it's a vacuum leak somewhere. The surging up and down indicate that. You really need to set your ignition timing correctly before you go messing with adjusting the carb and looking for problems there. That's why I asked about the vacuum advance. If you're on the street, you really need to run one.