Superchief500,
I didn't notice anything too hot, but otherwise the symptoms were identical, except that I didn't have a compression tester to check the compression. Regarding the one wet plug, I was able to remove the wet one without a wrench, so a loose plug probably would explain the wet plug.
If it's running hot and airflow is unimpeded ( blower in good condition, cooling fins clean, etc.) it might suggest a lean mixture. A plugged bowl vent should run lean until the heat causes enough vapor for a rich condition.
Flooding also might suggest a bad float needle or dirty seat.
How ratty is the exterior of the carburetor? The exterior condition might suggest the interior condition. The exterior of my carburetor was filthy when I pulled it, and the interior had varnish and other dirt. I'm overhauling it.