Update:
So, I spent another day on the water attempting to tune (brand new) 750cfm Holley. The conclusion I am coming to is that 750cfm is WAY too big for my engine (350ci). No matter what I do I cannot get rid of the severe bog between ~1000 and ~2000rpm. Going bigger or smaller main jets only makes the issue worse, different power valves and secondaries springs make no difference as one would expect. The engine would not even run smooth once I attempt to increase rpms beyond 1000. RPMs start fluctuating even to the point of stalling when smaller main jets are used. Looking down the barrels (with flame arrestor removed) I see fuel dripping, which would explain why the engine runs so bad in this regime. Everything goes back to normal once RPMs go above 2000 - good throttle response, good power, etc (good idle too). I am thinking the air flow is just not high enough at low RPMs to atomize the fuel properly. Another sign telling me that carb is too big is the idle tune. I had to go almost an entire turn in on the mixture screws from the initial setting of 1.5 turns out to get the idle right.
I am returning the carb. The 600cfm carb, while not perfect, runs much better.