Hi Steve
I used to own the same setup that you are looking at... waaaay back in 1973.
The wobble pump in this application is to take the place of the electric boost pump. (no electrical system I presume) As I recall, you give a couple of strokes with the pump to prime the engine before start, and if you loose the engine driven pump in flight, the wobble pump is what'll get you home.
As for the PS5C carburetor, I seem to remember having to keep the mixture full rich (or the throttle full forward, I can't remember which) when the aircraft is not being flown to keep the diaphragms in the carb moist so they don't dry out. If that happens you are looking at an ovehaul on the carb.
Phil Gasbarro