dmccormick001

I agree with the other guys that this engine now is running lean. The hammering noise is called pre-detonation, and as has already been said, it will cause you real problems if it continues. But I think your problem has shifted around 180 degrees on you. I think at first your regulator was set a little rich. That's about the only thing that can cause fuel to drip from the carb. If the engine were mounted upright, this fuel would be ingested into the engine and it would idle rough, but with it inverted it just drips out. This problem isn't uncommon with an engine that you're still trying to break in and fine tune. Once you get it sorted out, you may find the original setting was just a tad bit rich.

But now, as the other guys have said, it sounds like it has leaned out, and my bet is trash in the regulator. Mainly because you said the fuel all runs out of the tank after you shut it off. The only thing I can think of that would explain that is the valve in the regulator is stuck open, probably blocked by a gob of someting.

I'd recommend that you start out by getting, if you don't already have one, an exploded diagram of your motor. Look it over carefully, so you know what to expect before you take anything apart. Then take the regulator apart, make sure you know exacty how everthing was put together originally, and flush it out with your fueler. Flush it in both directions. Check the diaphragm for a pin-hole or tear, that might explain the symptoms you're having, but I'll bet it's just dirt. Put it back together, turn the screw back to approximately the place it was when the engine was new, (flush with the housing, or slightly below), and try it again.

Hopefully, problem solved?

David