Hi Matt,
You have found the right place and made a wise move to become a full member. While not exactly the same, the W111 is similar mechanically to the W113 and this site has gobs of information.
I had a similar problem to yours in that if the cold start worked well, I had too much fuel for hot starts. I did the same thing as you and disconnected the IP starting solenoid when hot and would start perfectly. In turn, if the hot start worked perfectly, it took longer with the cold start. I actually have three starting situations: Hot meaning five minutes or less after shutting the engine off, warm 5 minutes to when the engine cools to around 100*F, and cold anything below that. Sometimes in a Texas summer, the engine never gets to "cold"
. I went through all of the starting aids including the WRD also found on the injection pump. There are a myriad of adjustment possibilities and it is easy to lose track of what you did. So make good notes so you can go back if needed.
Long story short (hard for me to do), I compromised so that when cold or warm starting I have to depress the accelerator pedal and it takes just a bit longer. Hot starts work great with no pedal. My reasoning is that less fuel delivery just takes longer to start where as a flooded condition will leave you stranded. I ended up removing the starting solenoid off to shorten the rod so that it doesn't engage the pump as much (less fuel). I did document by exactly how much so I can always go back.
I chalked this up to the pump and engine being 47 years old and there are many parts that have just worn. I am being a bit persnickety on this, so perhaps my condition is not as bad as it sounds.