How do I setup the elec choke on my holley 650 carb? It's wide open all the time and is killing my gas mileage.

I don't understand your question. If the choke is open all the time it's not hurting your gas mileage. If it's closed all the time, that will hurt your gas mileage.

Do you have an electric choke? Usually there's a round black cap about 1.5" diameter on the passenger side with an electrical connector on it. If you have this, is there a wire hooked up to it?

Post the list number found on the front drivers side of the choke horn and we'll try to help.

Tom