The old float valve is probably worn and that’s why it’s leaking. Bending the float arm isn’t a big deal and you just gotta do what you gotta do to get it right. If you set the float in line with the carb body, the fuel level in the bowl will be too high. There should be a bit of daylight between the float and the carb body, about the thickness of the bowl gasket. Also don’t forget the new seal which goes under the seat. If it’s missing, there will be an internal leak causing flooding and the float arm will have to be adjusted to compensate.
Was the fuel pouring out of the carbs throat or just pooled up in there?
