[RobD55]

Thanks again for all the good feedback and info. To answer in order: No, it is grit, generally cloudy fuel will be a sign of possible emulsion formation generally due to condensation in the fuel tank/carbs during normal weather and daily ambient temperature cycles. This is grit, I cut open the paper element and sure enough it's grit, whether from the restoration work or when in the mech shop during drivetrain reinstatement I don't know. The grit causes the fuel inle needle valve in each float chamber to stick in the open position, causing the carby to flood over. Around 3 - 4 PSI Fuel Pump pressure will cause it to spray out everywhere!
Yep I have the standard fuel filter element/glass bowl as pictured. Yep the assembly was correct. I'm a long term user of CASCO products and have ordered new elements and gaskets. Re the cost of the fuel tank; be aware the US/Ozzie dollar conversion is around 0.6 (US$300=Aus$500)plus I would need to buy the tank from the States and have it shipped over, plus all the tank ancilliaries, fill tube O rings, Sender unit joints, strapping pads etc etc. We can't get any of that over here, our market place is too small and everything here is metric so even manufacturing in imperial/US measurement units, Thousandths of inch, inch, feet versus millimetre, centimetre, metres will create confusion. I do keep USPS pretty busy. I am hunting down some cleaning chemicals today. Had the tank pumped out today $400 plus they get to keep the fuel and charge me A$1.32/Litre, (US$0.79/Litre) for it also!
I'll let you know how I get on.

Many thanks

Rob