340 Chugging instead of Reving

Ever look down the carb while running at the rpm’s you say is starts chugging? Tried lowering the fuel pressure a little and

I've ran pressures from 7 down to 4.5 while running the engine. It didn't make a change in performance. I have not looked down the carb when it starts to chug or pop out the exhaust. I did change carbs to one from a.running car with no change. I can say there is a lot of unburned fuel.