At idle that 500 Edelbrock is not anywhere too much for the 292 and should adjust idle mixture and idle speed with no trouble. It may need some metering rod changes for driving but it definitely will idle.
Did you check the floats before installing it? The manual has all the specs and this can be done without needing to replace the upper gasket if you are careful taking it apart.
While you have the top off carefully look for fuel in the weight wells for the secondary air baffle. If you find some this is telling you the secondary booster nozzles are not fully seated on their gaskets caused by the screws bottoming in their threaded holes before snugging the boosters down on the gasket. This will cause flooding down through the secondary throttle plates ANYTIME the engine is running. Put a couple of flat washers under the heads of the screws and the problem is solved.
A month or so ago this exact problem was addressed in detail here on the bulletin board so if you browse you should find it. If I remember right the subject title was "Edelbrock 500".
Mike G
