I don't have the factory fuel lines under the hood, after the fuel line comes in through the inner fender apron.

I have a braided stainless line from the pump to the carb, just before the carb is an Edelbrock banjo fitting with a fuel filter on it.

 

We checked the line going from the modulator to manifold. It was full of transmission fluid. Blew if out with compressed air. Replaced the modulator valve. It was a bear. Had to cut a box end wrench in half to get it to fit in the limited work space. Took the pan off. Put a drain plug in it. Cut a gasket. Put Humpty back together. Transmission fluid reads full on the dipstick. No more smoking. That problem appears solved. Seems to shift a bit smoother now.

Replacing the the modulator didn't seem to have any affect on the dying once warmed up. I was hoping to kill two birds with one stone. After warmed up it dies about 1/3 of the time when put in reverse. Let it cool and it runs fine again. Dies sometimes while in gear. Seems to run smooth until it dies. No missing out, etc.

Thoughts other than putting in an inline filter right before the carb? This is sounding like the next approach. Figured I'd start by taking off the fuel filter at the pump and see what there is to see there.

 

Did you ever figure out the problem with getting this falcon to run. my buddy has a similar issue with his.