Tony,
I hadn't noticed your location. Reading you had a Pony carb I assumed you were stateside. Its been 30 years since I was in Adelaide.
The pressure regulator proved that pressure isn't your problem. And no matter what your mechanic said, the only other thing that can be causing petrol to spill out of your carb is either the float or the valve needle and seat. The float level might be too high or the float might be sinking. If it sinks though its likely to stay there and that is not what you report. More likely its just a bad needle. They have a nylon(?) tip that deforms slightly to mate against the brass seat. Yours appears to work most of the time, but regularly overfills the bowl(s). Maybe something is not quite right and the float gets caught and stuck somehow?
My comment about AutoZone won't do you much good in OZ since they won't ship outside the USA except to members of our military. If you can't get parts from your mechanic, surely there is some place in SA you can buy parts for old Ford carbs? The needle, seat and float are a simple system and easy to replace. I agree, trying to deal with any company half way around the world will be difficult. If your car were in my driveway this would be an easy fix since the needed parts are only a few miles away. In yours, I don't know.
Almost surely, this is what you need:
http://napaonline.com/MasterPages/NO...eedle+%26+Seat
Pony Carbs is just down the Interstate from me but I have had no dealing with them. You are not the first to report problems with their products which makes me wonder what they are doing.