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If you are going to call somebody out on their spelling, you might want to check to see how you spelled "original" in your post. If you like your holley, you can keep your holley. The word "vane" is used in the wrong context, if you want to get technical. You brought out the grammer monster in me.
I have a 383 that was rated right at 400 hp on the dyno, but with parasitic loss, maybe 375....ish. i'm running a 750 cfm Edelbrock, other carbs are good. I know Edelbrock does not get a lot of love, but they are easier to work on for me. I just don't have any experience with Holley.
True, i went overkill on a mildly built 383 a little over 400 horse on the dyno, and of course parasitic loss will knock that number down. 3/8 fuel line, 5/16 return.
Doesn't a stock type vapor separator kind of do the samething? I use the wix fuel filter that has the return line nipple on it. Of course wix discontinued it.
Ethanol fuel today is not what gasoline was back in the 60's, and 70's. Ethanol mixed gas tends to evaporate quickly. Fuel injected cars don't have a problem because of high pressure fuel pumps, as opposed to the older mechanical fuel pumps. A carb spacer prevents heat soak in the carb.
Ethanol mixed fuels evaporate pretty quickly, the only upside is it won't gunk up your fuel system. A carb spacer helps with heat soak causing vapor lock. I'm sure you already know this.