If the air screw is shut, it may be difficult to lean the mixture at idle.
There is a procedure we call Linkage Tour in our Technical Manual. You have to be Full Member to have access to it. It describes step by step the tuning process of the car.
Aside from that (I am not a mechanic, just bear it in mind):
1. If your engine is freshly rebuilt and these are its first minutes of work - there may be black smoke from the pipe.
2. WRD works only when the engine is cold. Then it does not work unless the air valve is leaking because WRD is not able to close it. Easy to check by unscrewing air filter and placing thumb at the opening - if suction is present when the engine is warm, air is drawn and WRD will be leaning the mixture when it should not.
3. WRD is not used to set the mixture value. For this we have
- the flower nut as you say, for idle, up to, say, 1500rpm
- the main adjuster - back of FIP, to the right hand side - across the rpms
- you can adjust mixture by adding or removing shims under barometric compensator - across the rpms
4. Before playing with mixture adjustment
- your injectors have to be checked if they work and not leak
- ignition timing and dwell properly set
- valve clearances checked and set
- engine is overall in good condition
I assume Fairchild properly timed the FIP.
If I were you I would:
1. Become a Member here
2. Study Linkage tour and how the FIP works
3. Review numerous posts on this subject (you are not the only one having this trouble, I was too)
4. Check out youtube materials on this topic
5. Check the points I mentioned above (injectors, valves, timing)
6. Unscrew the air screw mid way and take it form there.