Ryan,

The transmission fluid on older transmissions is dexron 2. Now you use dexron 3. Some older heavier lifts will use JD tractor oil. The engine is pretty simple. The carb is called the mixer. Remove the top cover screws and look inside for oil and dirt build up. You should have two round flat fuel components that connect together. Where the line comes in from the tank, it connects to the lock off. This year of engine should have a vacuum line going to it. Connected to the is the regulator. This drops the pressure from the tank to the engine to about 3 to 5 PSI. Make sure there is no frost on either unit. Frost means there is a leak or no antifreeze is getting inside the regulator. There should be a plug that you can remove and drain the oil. Oil comes in all LP tanks and builds up in the LP fuel system. Run engine as long as you can to warm up the system. This will allow the oil to come out easier. You may need to replace both as old as the unit is. Suspect this has been done a couple of times. With the symptoms, you are seeing, suspect the LP system needs replacement or service. Remove distributor cap and check rotor. May have corrosion on both. Good Luck.