i kinda skimmed through this, but i think i caught something saying you are running the Edelbrock 1406 carb?
if this is the case, you are decsribing to the T, exactly what i had happen a few times with mine.
I was trying for awhile to lean out the "rich smell" just like you are describing, while idling at least, in doing so, i rejetted the carb several times, different combinations, jets, rods springs whatever, tried to follow the chart to keep things in order and basically i would get a certain set of rods and jets where it would idle just fine, but under load it would start to stumble and stall out,,,like starving for fuel.
SO, i reinstalled the next set up, (rods/jets) and it got progressivly better until it doesn't stumble anymore, drives fine down the road, BUT still has a slight "rich smell" at idle.
i am thinkin this motor i have, at it's current configuration, would pass our emissions standards, IF i had Cats, an EGR valve and possibly an A.I.R. pump on it.
QUESTION NOW.
have you, or anybody else that you know of, tried rejetting this carb?
to me it sounds like the secondaries are too lean and starving under load and at higher RPM's.