[Adger Smith]

The Holley blue regulator has a very small area. If you figure the area of the jets in your carb you need a similar or larger area in the regulator to get adequate flow. Otherwise the bowls start emptying as you go down track.
The lower float level could alter the A/F ratio.
The area also applies to Needle and seats.
2ea. .130 dia. N/S will out flow a single blue Holley regulator..
In the past when I ran Holley Blue regulators they were modified for increased flow.
If your a non believer take a blue Holley regulator apart and do some measuring.
The bypass regulator helps reduce air bubbles in the fuel and gives the carb a solid slug of fuel to get in the bowl. Most carbs don't care for air in the fuel & show it in performance.
How much HP are you making?.. HP requires LBS per Hr of fuel. Design a system that provides the correct LBS. Per Hour of fuel.