Some of those old Homelites came out with a Zama, Tillotson and Walbro carb on them. I've recently had a bit of trouble with the Walbros because of the one way valve on the diaphragm side. They kinda turn to mush after 40 years. I put a Zama carb on one of mine and it worked well. If you could try a good carburetor on it from a good running saw it would help to see if the carb was the problem..