[Lochlin]

Almost without a doubt, your crank seals need replaced.

A fuel pump only delivers gas to the carb. The carb allows it to be delivered to the cylinder, mixing it with air as it goes. The fuel adjustment screw on your carb can, literally, stop the flow of gas altogether. As such, it's really impossible for the pump to be delivering too much fuel since the fuel adjustment controls that, not the pump.

Now, once the fuel is in the carb and mixes with air good engine vacuum sucks it into the cylinder for combustion. If the crank seals are bad there is not enough vacuum to suck the gas / air mix into the cylinder and the gas exits the carb via the path of least resistance........the air cleaner. Indeed, gas soaked air filters are a sure sign of good fuel delivery, bad crank seals.

The only other thing you want to check is the reed valve. If one of those reeds are broken you'll have the same symptom, gas flowing to the air cleaner. Checking the reed is pretty easy so you might as well do it but those are pretty durable. I would bet on crank seals.