I had the same problem with my Ranchero then my kids Comet and it was that the Choke was to tight, minor adjustments and they both start perfectly. You have to do it when the car is cold to get it right.
Cold start seems to help a bit...however i'm still having real problems with starting after it's been off for a few mins...gotta love that. Will look at the choke tomorrow, finally got a few days off...=]
im not sure what kind of carb your running{stock 2 barrel?}but the float may be sticking.when its warm,with the air cleaner off if its sticking when you shut it off itwill smoke{steam}some.when it wont start have you ever floored it?this will open the butterflys and shut off the fuel circute.if it starts up you deff.have a rich mixture and need to find out why.