I rebuilt the carb, and it leaks. Needle clip 'points' toward air cleaner, and the seat had the groove facing the needle. When held upside down (float up) the float is parallel to the carb body. So I'm thinking that's set right.
I tore back into the carb, and in about 15 minutes the needle clip was still pointing toward the air cleaner, and the seat had the groove facing the carb body. Bolted everything back together, and...
It still leaks. While draining the fuel from the carb back into the fuel tank the main jet/bowl screw was nice enough to fall into the fuel tank. That's an adventure of it's own for tomorrow morning.

I know it's something with the needle and seat, as when I open the fuel shutoff the fuel runs out of the carb where the air cleaner mounts, and the spark plug is SOAKED with fuel. So...
Considering the possibility of a bad float, this still has the old school metal float. If it's bad fuel should be heard sloshing around in this, correct? Also, where is the bowl vent? Figured before I get too confident on the needle and seat I ought to consider other remotely possible factors.
Thanks,
Matt
the engine looks very similar to this (black... and no thumbscrews on the air cleaner)

Carb is like this... old school flo-jet
http://outdoorpowerinfo.com/repairs/briggs_large_one-piece_flo-jet_carb.asp