Help with air intake!!!

I recently put a new carburetor on my china girl. She's now actually running! But the problem is that I don't think I'm getting as much power out of her has I should. On my last carburetor the engine was most powerful when the air intake lever marked with Chinese symbols was all the way to the top. Now, with the new carburetor, if I put the lever all the way up the engine dies. I can have it at about the halfway point and it will run, I just want more power. Anybody got any ideas?

All the way up is Choke fully on. All the way down is fully off. Once the bike's warmed up you should have the choke fully off for best power.

I will crank the bike over once with choke all the way on, then it will start when I crank with 1/3rd on. Once it runs for a min, I turn the choke all the way off.

What happens when it's warmed up and the lever is all the way down?

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Gotcha, thanks for the help! So I have developed one other problem. The reason I had to replace the carb was that I was going down a hill, was going about 45 mph, and overreved the engine. Dumb, I know. It wouldn't even run before I put in the new carb, but now, when I reach about 25 mph I can here something dinging around in my engine. When it does the engine starts loosing power and I have to slow down. Any ideas as to where it might be and how to get it out?

Hmm, if something was actually in the motor, you'd probably hear it all the time, not just when you're going fast.

I think I remember reading something about this...Pablo, help me out, was it the wrist pin bushing?