I finally got the AIR system inactivated. Checked for a vacuum leak around the carb and couldn't find any. Car seems to hold an idle now without slowly going down and dying. One thing I have noticed since I have been doing a lot of work with the air cleaner off is that after the car has idled awhile, though still not anywhere near hot, after I shut the engine off a vapor or mist almost as thick as smoke comes out of the carb throat. The carb is still cold to the touch when this occurs. What is causing this?
Crankcase vapors - if you had the air cleaner and PCV hoses connected, you wouldn't see it.