The carb is a 700 cfm Edelbrock and Edelbrock performer intake. It sounds like part of the problem is fuel boil-off. But, as I have a clear fuel filter, the fuel does not show in the filter before a cold start up. I think the fuel drains backwards after it sits for a while. If there are check balls in the mechanical fuel pump, it could be likely that there could be a problem there too. I like the idea of a draw thru electrical pump outside the tank. My Dad had a similar problem with his Lil' Red and it solved his issue. I will do some investigating soon and let you all know what I find.
Thank you all very much for your help, it is greatly appreciated.