Update:
Tried the unused spare spark plug, which didn't make much difference. Checked the spark plug gaps, and it turns out they were gapped at .02", but the service manuals call for 0.024-.028. Didn't make much difference after opening them to .028, though.
Finally got curious and pulled out the carburetor. After dismantling it, I found particles of grit in the bowl, jet, and emulsion tube. Houston! We have a problem! Almost looked like particles of aluminum left over from manufacturing. After unscrewing the jet, blowing out the holes in the emulsion tube with Gumout, and blowing everything out with air, things looked much cleaner.
The gaskets sealing the carb to the intake elbow and the elbow to the intake looked to be in poor shape. Seems the holes weren't quite the right size for the screws, and had bunched up around them. Also had some gasket material stuck to the mating surfaces. Got some gasket paper and made new ones, then used some fine steel wool to get the old gasket crud off the mating surfaces.
Lastly, the service manual pointed out where the mixture needle valve was, but had a note saying "not adjustable on CARB units". Sure enough, there's a little cup-shaped plug pressed in over it. A small drill bit popped it right out with ease, and I took out the needle valve to blow out the orifice.
Result? It's vastly improved. Still the matter of the choke pulling off too quickly, but even at a wild guess for the needle valve setting, it started easily after priming the fuel pump. Turns out the needle valve is idle mixture; it has little effect when it's under load and the throttle is open. With no load the idle was very unstable, but some tweaking of that needle valve and it idles even better than before I started. Now it idles evenly without surging or hunting around.