If you are dripping fuel after shut down you need to close the regulator some. I would suggest about 1/8 of a turn at a time. Lastly you did not mention if you have tried a different fuel yet. I would strongly recommend something with a bit more nitro. Many like to run these motors on cool power 30% helicopter fuel by Morgan's. It might save you some frustration if you pick up a gallon and start there. Also, the higher nitro content makes the motor a bit easier to needle.

Lastly I would also suggest that you remove the regulator and check it to make sure there isn't any debris in it.

Good luck,
Jimmy Skids