UPDATE:
I took the top off the carb, removed the inlet valve, all looks good and clean, no crud. float moves up and down just fine...
I left the carb open and cranked the engine (I have a button on the starter solenoid so was able to watch it)... the fuel bowl started filling with gas, but the float never rose up! I stopped cranking when the gas was starting to overflow out of the bowl.
Then I noticed small bubbles forming (see attached pic). I read you're supposed to check for float leaks by submerging in hot water, but do those bubble also indicates a pinhole leak in the float? Or is that just a small air leak somewhere in my fuel line (quite possible as I have a small drip at the gas tank where I need to replace the fitting).
Any other reason why the float would not lift?