Assuming everything else is right, I have never needed more than a .028" squirter and the #218 pump cam (which is stock on the 4053) on a 780.
Make sure your pump arm isn't bent/tweaked which limits travel. The end that rides on the cam sometimes gets bent upwards. If everything's set right, the pump arm should move immediately upon throttle opening. FORGET that old wife's tale about .015" clearance at WOT, that's a myth that needs to go away (along with that crap about picking a power valve that's 1/2 of idle vacuum, but that's a rant for another time).
If that checks out, make sure the ball isn't stuck in the pump well on the bottom of the bowl, and that it doesn't have too much clearance--.~.015" is sufficient.
*EDIT* get rid of that locked out distributor set-up. 16°-18° initial and ~36° by 3000 rpm should work nicely.
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