I think so, I've taken off the hose at the carb, and it flows quite good. Anyway, if it didn't get fuel to the carb I would think it would at least rev for a few seconds, and not quit so fast. I've ridden it for a few minutes on 1/4 throttle no problem.
About the floatlevel, the Main jet sticks quite a lot further down than the pilot, wich it obviously runs on.