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AF ratio will vary with engine demands, if your on a absolutley flat surface, it should run pretty steady. The richness under braking is fuel splashing out of you bowl vent tubes into carb (it is a Holley right?) You can cure braking splash by connecting both vent tubes with a piece of tubing and putting some vent holes in the tubing at the high point AWAY from the throttle/veturii area towards the air cleaner. Constant throttle AF change can also be intake manifold distribution problems, engine problems, fuel pressure fluctuation. I LOVE my LM-1 but be careful while driving if you don't have data logger into laptop.
Even so, the LM-1 will still show 14.7. It measures lambda and assumes lambda 1=14.7. Even though lambda 1 has changed with the 10% ethanol, the LM-1 still uses 14.7 so your display will show 14.7 when in reality it's a bit richer.
Oh yeah. Forgot it was actually reporting lambda. :o
Wait a minute. That means if I were to suddenly switch to E85 (fat chance), then I would still try to tune to 14.7, even though the ratio is 9.8 or whatever. We have to run E10 here in CO, so if my idle display says 14.7, it's actually 14.2 with E10, right? Pretty nice not to have to do anything different...