Use premium unless your manual says you can use regular gas .
It sounds like your carb is full of crud . You can try squirting some carb cleaner in through the gas feed ,I think from your description that the fuel valve was sticking .Leaving it overnight soaking in carb cleaner might free off any debris that is also causing the float to stick .
However I think that you will have to pull the carb off and remove the float bowl and give it a good clean out , blow through all the small holes with carb cleaner .
You can use soft fuse wire to poke through any holes that are still gummed up but be careful and don't get it stuck.
Try and download a diagram of the carb so that you know what you are dealing with .
Good luck .
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Blessed are the cracked, for they let in the light. - Spike Milligan
"When you come to a fork in the road ,take it ! When you come to a spoon in the road ,take that also ."
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