I'm not sure how to respond to this, because this doesn't sound like the car that I used to own. There is no rag in the gas tank, I can tell you that for sure, unless someone just put it in there. I'm not sure what the issue with the carb is, nor do I understand why you say it wasn't running well, because when I owned it it ran like a scalded ape. And while I agree the paint job was not perfect, I don't believe that JP advertised it as such.
nate