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I bought an nos petcock that an indy had hanging on his wall for what looked like many years. The rubber gasket lasted about a month and then started to turn to jello. He gave me a replacement and told me that with the newer gas the gasket needs to be made from something called Viton.
FYI: no word on the ig-mod yet, sorry to hang you up..
It's also possible that bits of gasket and/or fuel line are wedged in your needle valve, holding it open. You might just need to clean it out after you replace the gasket or petcock.
I opened up the original petcock and took a look at gasket behind the lever. I found a small tear/burr. Not completely torn through so that appears to be why it was an on again off again thing. I suspect I will find the same condition on the new one.
I just replaced my petcock, having the same issues as you. Went with the j&p, works great and a good price too, $14 bucks or so.
If you dont think it is the float , and its the stock carb you probably have the fuel inlet fitting is bad(because it has a plastic elbow) Mine had a hairline crack, harley replacement elbows(all brass) are $13 and in stock at your local dealer, easy to fix.
Thought I'd add my 2 cents. I've been having problems with gas dribbling out of my S&S Super B for a little while. Took the carb off and was working on it thinking it needed a new float valve or float adjustment and had the end of the gas line placed into a container and the petcock shut off. To my surprise the next day there was a few oz. of gas in the container. The petcock wasn't shutting off all the way. It was the original 1986 FLST OEM petcock so I replaced it and the float valve....no more leaks. I think I had 2 problems 'cause the valve had a wear ring.
I had one of the aftermarket "Accelobowl" AC pumps too ( don't think you can buy these anymore?)and I suspected there was a problem with it, (turns out no problem) so I pulled it and put a stock S&S bowl on it while I was at it.
I have an S&S "E" on order so if anyone wants the Super B and AcceloBowl shoot me a PM. I'll let it go cheap. Real cheap. I could really feel the difference between the stock bowl and the AC pump bowl. Flat spot rolling on throttle.....that's why I'm upgrading to the "E".
If you're carb is dumping fuel out the overflow, you've got a float needle issue. My son's Sporty had this problem and all it took was a new needle. The old needle valve had corroded, possibly due to water in the gasoline.
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