FWIW, been running Edelbrocks forever on street driven small blocks, and I have always run a regulator at 5-5.5lbs. When I had it set at 6-6.5 it floods out, overcomes the needle and seat.
And yea, a 1405 is a bit large, but with the weights on the secondaries it won't let it open them totally. Still, it may bog if you floor it, but the primaries aren't too large.
I second on the Holley 500, that's a great simple carb. But MPG will suffer because of the huge butterflies. Great for a small block performance application though.