What you have should work. 5.5psi or so is enough to run a 4 cylinder and I like to get the genuine holley needle and seat for alcohol for it will hold 7psi easily. Run at 7 psi. Double check everything. An alky carb designed for a v8 with 3-12 pressure may need tweaked to get it to work on your 4cyl. The main change will be the original holley needle and seat for alky. Plug gaps at .030 or so is fine. Plug wires and all the common stuff. If you have a tack unhook that. What you have should work fine so check everything over close.............compression readings from cylinder to cylinder/idle vacuum/valve lash sealing. 4500 is around max torque for the combo and is the likely point of a miss for weak cylinder pressure/spark.Make certain the boosters are not dripping fuel at idle. Make certain the throttle blades aren't open too far at idle. With the carburetor off you will see the T slot and if the carb was new they set that idle screw appropriately. If you had to jack up the throttle blades to get it to idle you could have uncovered the t slots too far causing your issue. Also check when you pump the throttle that the squirter is working and that fuel is squirting out. Alky carbs have a tendency to not squirt after periods of setting. Hope some of these tips can help you get it figured out. Just to give you an idea the 500 holley float bowl is capable of around 350hp on alky. You could add bowl extensions and go more than that. V8's need the 11psi but 4 cylinders don't because it's not making enough hp. You could put a block pump on there and run alky on a 4 cyl just like a gas engine. The supply is sufficient on the 4cyl. I assume you are using electric because your block isn't drilled for manual pump. A bypass system is ok but an electric pump setup for a 5psi system just like a gas engine will work. Also, the black pump is setup for 14psi and will require a regulator for sure. Just to give you an idea 60 gph pump will feed 350 hp. A standard holley red pump with no regulator will run that engine easy. I know you got that black pump because it says its alky compatible. Keep some top end lube in the deal and don't sweat it if you start every week. Now don't let it set all winter without taking it apart and lubing it up.