Just take off the air cleaner, or at least remove the filter and the top leaving the base in place (secure it) and see how it runs. No money spent.
3.70 should be a good gear, you have other issues. It’s not like you went nuts and put 4.88s in it.
Fuel delivery even with the big 550 mechanical pump may be an issue, especially if you have not yet upgraded the fuel line from the tank to 1/2”. Keep your tank at least half full. You really need to hook up a fuel pressure gauge even just temporarily on the cowl where you can see it.
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1964 Tempest Coupe LS3/4L70E/3.42
1964 Le Mans Convertible 421 HO/TH350/3.08
2002 WS6 Convertible LS1/4L60E/3.23
1966 VW Type 2 Single Cab Pickup 140hp 2276
1956 VW Type 2 Panel Van 36hp 1200
1957 VW Type 1 Beetle 180hp 2276
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