Jaguar stepped back into the sports car market in 1949 with its
XK120. The XK140 replaced the XK120 in 1954, and the XK150
arrived for 1957. All three cars are representative of Jaguar’s rebirth in
the sports car world.
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The oil damps the carb’s piston travel and keeps it from jumping up too rapidly, causing a fuel “gulp” and a temporary, quick over-enrichment.
I think that's backwards. Delaying the pistons' rise subjects the jets to greater relative vacuum, momentarily drawing more fuel and preventing a lean stumble, not a rich "gulp." This is how SUs get by without accelerator pumps.