At 750 hours, the black smoke/soot could be from build up inside the mixing elbow. hat creates back pressure and causes an inefficient burn of fuel. If it has not been replace by now, it's due. It will make a lot of difference with a new mixing elbow. You may also see about a 30 to 50% improvement in fuel GPH. On my 2GM20F engine with a new mixing elbow I get about 0.30 GPH, with a 'fouled' mixing elbow (about 500 hours on it) I get about 0.45 GPH. Since I keep accurate fuel usage & engine hour run time, I can see the GPH creep up over time.