When I start the car in the morning there is black chalky liquid coming from tailpipes on startup and it splatters onto the ground. What does this mean, am I running to rich or to lean? Thanks

Condensation carrying out soot until warm up . Unless its constant , I would think its normal... Mine does this also until warmup. After that , you blow it out . Could be a little rich .

The only reason I am wondering about it is that it never did it before until today. I just installed a new distibutor, intake manifold and edelbrock AVS 650 card so I assume it has something to do with the new parts that were changed.

When fuel is burnt effiently, not only CO, Co2 and other gases are produced, so is water...
This condenses in the pipes...and evaporates when the pipes get hot.
At cold start up it gets blown out and washes desposits with it.
This is normal
On the other hand it can also be a sign of a manifold leak...did u use thread sealer on the valley cover bolts? An torque down the manifold in the correct sequence?
If a block is decked and/or head plane accessivly, then the valley cover will not sit quite right (it also needs to be planed to fit) If it is to far off, then one can get a poor fit and leaks or in serious case the flex can crack the valley cover.

I did check for vacuum leaks by sparayting car cleaner around the manifold andd card and there were none. I also used a vacuum gauge and it is a consant 17. I did use thread sealer and torque the manifold in sequence.

Does your new carb have an electric choke? The choke will make it run very rich until it comes off. Entirely normal.

Electric choke but I have it set so that it is barely on. I am in CA so I really do not need it.

All of my older cars do that on cold startup after they've been sitting for a couple of days - it's condensate that accumulates in the (dirty) pipes and mufflers and blows out at cold start. Perfectly normal. Original OEM mufflers had a 3/32" pierced hole at the lowest point of the muffler end caps for condensate drainage to avoid premature rust-out, especially on the passenger side (where the heat riser is - that side never gets as hot as the driver's side, and always rusts out first). Replacement/aftermarket mufflers don't have the drain hole - I always add my own. :thumbsup:

I did check for vacuum leaks by sparayting car cleaner around the manifold andd card and there were none. I also used a vacuum gauge and it is a consant 17. I did use thread sealer and torque the manifold in sequence.
One last check..get the local mechanic to run a CO check on the radiator...
If everything checks out OK /I would suggest dont worry about it...before the changes u where running not a very good burn, now with the changes u have a good burn

What is a CO check on the radiator?

It is a bottle with a liquid in...the bottle seals to the radiator cap hole, the engine is run, and air from the radiator is drawn thru the liquid in the bottle. If the liquid changes from blue to green there are CO gases in the radiator that have escapped from the combustion chamber(s)
Takes about 4 or 5 minutes to check, including getting from the draw and putting away again.
Its a basic mechanics work shop tool like a timing light, or gear puller.

Can I buy the kit locally from a parts store and do it myself? Thanks

I have know Idea m8...
I live in New Zealand, as u may see from the top of my post, I have know Idea where u are from.
Most automotive trade suppliers have them here, they are not a super cheap tool and the soln is not cheap either, thu its reusable cause when a test is finished one draws fresh air thru and it goes blue again.

I had the same coming out of my pipes until I drove the car for a very long distance. Condensation disapears once the complete system has been thourougly warmed up.
Take it for a loooong drive and check behind the car the next day. I took mine for a 350 km drive this weekend. No condensation to be seen AND I had a great day too!
You will also see this phenomena behind "comuter cars" in the pile up's that only runs short distances and where the system has not warmed up enough.

Get rid of condensation and you also prevent your mufflers and pipes from rusting apart.