Mike:
Thanks for the input, and that sounds possible. Would you think that it is stuck closed or stuck open?
If it's stuck open I might be able to hear bubbles blowing back into the float bowl when I pump it. I'll have to try that tomorrow. I think that if it IS stuck open that it would at least pump a little when the engine is off.
If it's stuck closed that would explain the fact that it is dead dry with the engine off but I would expect a big flat spot in the acceleration. I'm having trouble accepting that it runs so well with the pump not working at all. I just rebuilt the carb and everything was perfectly clean and working but the engine is newly built and the builder tuned the carburetor on the dyno so he is the last one to take the top off.