The tubing should stick out of the ferrule no more than 1/8", but flush is OK. Having the end of the tubing flush with the ferrule will not cause the fuel starvation problem that Les warns of. So, unless this connection at the carb is leaking gas, you do not need to put on a new ferrule to address the "gas starvation" problem.
If you have confirmed that gas flows freely out of the fuel line when you take it off of the carb (flow into clean jar for a time) then I'd look inside the carb for a clogged passage or jet.
How long does it have to run before it starts acting like it is running out of gas? Does opening the GAV seem to help at all? Does it make any difference if the fuel tank is full or down around 1/4 tank or below?
Try running with the gas cap loose or off the car for a bit; some vents get clogged. (I've seen it often.)
Fuel filter in there anywhere (besides the screen that came on the car originally)? You only have gravity feed here, no fuel pump, so you can't handle much restriction due to rust particles in your fuel before you notice it.
I am also reminded of some sage carb advice: "Most carburetor problems are electrical." That is, I'd look again at your entire ignition system, just to confirm that all is good there. Take nothing for granted. Check coil polarity, the wire connection from armored cable up to points, the ignition switch, the point gap and the spark plug gap.
After chasing a "carb problem" for a long time without success, it is good to look elsewhere.