Wow, my hat's off to 78 here.
Stoichiometric is the optimum air fuel ratio for a normally aspirated engine, and probably never used here on RME before. A cheap tempory fix is easy, but it does have down sides.
A motorcraft 2100 series carb cant be beat offroad. You can find them for $25 or less. Rebuild kit is around $28. Offroad mods to it will run you around $1. After that you'll be able to lay it on it's side, and it'll just keep on trucking.
Downside is, you WILL lose power.
The more desireable 2100's are found on AMC 360's, or Ferds 351, 352, or 360 line.
If everything is hooked up right, once the computer reaches normal operating temperatures and starts using the o2 sensor input, it will modulate the mixture to stoic- by adjusting the timing and fuel volumes. most of the problems you hear about are cause by people deviating from a 110-115* cam centerline or cams that cause the engine have really bad vacuum. The fuel pressure is dependent on vacuum to control the pressure 2.5" manifold vacuum decreases pressure by 1psi, which in turn lowers the volume of fuel delivered.