What effect will the float level have on the way the car runs if is to low or to high?

 

If the float level is too low, the engine will have a difficult time starting, and will spit and sputter for lack of sufficient fuel. If it is too high, it will tend to flood and die because of too much fuel.

 

I installed a new float when I rebuilt the carb, can you tell me the proper way to set the float level, Thanks

 

The directions will instruct you how to level the float. If you bought a decent kit, it came with a little tool to measure how much to bend the tab.
On edit: See if this tech article helps you more than my mumbling.
http://www.xs11.com/tips/maintenance/maint20.shtml

 

If it has the sight holes, that helps without removing the bowls again.

 

I think I am making it more difficult than it really is, Thanks