I just started the engine tonight before I take the car down for a rear axle rebuild. Eventhough it stayed in the garage, I was able to get the temp up to 180F.
To lessen the lean period, I added a .008 oval shim for a total of .036" and it was just too much fuel when cold. In fact for the first time, it made my eyes water :'( So I took out .004 (.032 total) and the difference was amazing. Yes it was still a bit rich when totally cold, but ran pretty well when nearing 150F. More importantly, the lean period was almost insignificant. It was a tad lean but ran OK.
The other thing I did was to remove the WRD air filter and check the flow. When the engine entered the lean period (160F), there was still a slight air flow. I took a few minutes, but the temp rose to 170F and still a tiny bit of air flow. Finally after a total of 10 minutes, the temp rose to 180f and guess what; the air flow shut off. When that happened, the rpm rose by 100 and the idle smoothed out and the mixture was then correct.
So I guess I am a believer that the fuel rod hits the stop first before the air valve completely shuts off. Because the fuel rod spring is heavier, it takes a while before the thermo plunger gets hot enough to overcome the spring and shut off the air flow. Like was said, if you drive the car and not let it sit, it will totally warm up faster.