I got a leveler with the hoist I bought used and have never used it. It's laying in the corner of the garage collecting cob web's. The reason is the carb always got in the way. I've just adjusted the angle by whatever link I hooked the hook too on the chain. Call me lucky but, I dropped the last engine in my truck by myself while my buddy went home to eat lunch. By the time he got back I had the trans bolted up, the headers in place and was bolting up the starter.
Personally, I think levelers are over rated and time consuming.
Cobalt, You don't know what your missing by not removing the hood! The ease of access to the dist. bell housing bolts, and everything else is incredible.
Try it once, you might like it. Takes less time for 4 bolts on the hood than removing the carb and you can install it while it's on the engine stand instead of leaning over the fender.