Can fuel pump be bad with a constant 5-6psi reading?

I tried warming up the engine to normal temp then plugged vacuum advance and carb fitting. Nothing changed at all in the way it runs. After that I stopped and checked to make sure my choke wasn't stuck but it was fully open. I stopped and looked at the fuel stream when I rotated the throttle. I don't know how much is suppose to come out but it was clear and strong. I think I played with the timing but bumping it up didn't change anything. And there is only so far you can go because the way the hoedown is slotted. I think highest I had was 10 btc.