The part that is leaking fuel definitely needs to be replaced. According to clarks garage, that's the damper. All that fuel leaking is going into the intake and richenning the mixture. At least fix the vac line that's supposed to be attatched to the other part that should be the regulator, which may also need to be replaced if the fuel pressure is wrong. I believe low vac at that line (as if you stomped on the throttle) raises the fuel pressure, which would definitely richen the mixture if there's no vac at the regulator diaphragm. You probably should borrow/buy a fuel pressure tester to find out exactly what's going on and to ensure that the needed repairs completely fix the problem. The fact that it runs like it does with the AFM unplugged also points to it running slobbering rich. It should practically die if that is unplugged. Check your vac lines, as more of those little rubber fittings may be deteriorated causing vacuum leaks.
Fuel Pressure Regulator - General Information and Replacement Otherwise, the motor sounds great from what I can hear in the vid. The fuel injectors do tick pretty loudly, so that is no cause for concern. If it still runs badly once the fuel system is fixed and running correct pressure, the AFM could be the cause as well as maybe the DME coolant temp sensor, but you won't be able to tell with the fuel system/vac lines in that condition.
Clark's Garage Home Page , "garage shop manual" on left navigation bar has lots of info that will help.
Take care of those things and let us know how it goes.