yes 12 psi is absurdly over pressure and its almost certainly causing flooding , 5 psi is about ideal.
http://garage.grumpysperformance.com/index.php?threads/fuel-pressure-regulators.635/
your carburetor inlet fuel pressure should be a consistent 5 psi-5.5 psi in most cases, once you get over 6 psi you'll find the carburetor float bowls tend to flood and under 3 psi the carburetor can run lean under hard acceleration.
keep in mind the internal port size is not all that large on the cheap holley fuel pressure regulators , so they work ok on near stock applications but NOT on anything close to a race application.
http://garage.grumpysperformance.com/index.php?threads/fuel-pressure-regulators.635/
your carburetor inlet fuel pressure should be a consistent 5 psi-5.5 psi in most cases, once you get over 6 psi you'll find the carburetor float bowls tend to flood and under 3 psi the carburetor can run lean under hard acceleration.
keep in mind the internal port size is not all that large on the cheap holley fuel pressure regulators , so they work ok on near stock applications but NOT on anything close to a race application.
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