My Dad and I recently finished rebuilding my 1975 BMW 2002 (February). Now that I have it on the road, I noticed that when it rains really hard, my yellow blinker light on my dash will stay on when the car is running. I know it's weird but does anyone have any thoughts on this one? My next question is I have a weber 32/36 carburetor and when I accelerate up to 4k rpms, the car pulls well and has no problems until the rpms go over 4k, then the car seems to loose power. I know this is in the carburetor and not the timing, I was just wondering if this could be fixed by a simple screw adjustment or could this be caused by the wrong jets? Thanks for your time!!

There is most likey some beat up wiring thats causing your light problems. It could be grounding or shorting perhaps? As to the carb, I think that is somewhat normal, unless you are loseing massive amounts of power. A 32/36 will begin to lose steam as you get into the higher rpms. How much of a power loss would you say it is? Is it really noticeable? It may just need to be jetted and cleaned up.

Two ideas...
On your 'when it rains my dash turn signal indicator is lit' problem, you may have a grounding problem with your turn signal lights. The front ones are grounded by a screw that attaches the lens covers, check that out. You may also want to have someone see if any of your lights are/aren't lit when that's happening as well. See if any of the lights/wiring look to be getting wet. The hazard switch-turn signals circuit on these cars is wired in an unusual way, and can get kind of twitchy wth age. (Good articles over at bmw2002faq.com).
On your 'over 4k rpms issue', I know you're thinking it's a carb-related issue. (I can't help you on that one, never had that carb - though given the redline on these babies is 6400 it seems way too low to be hitting any normal carb-related limit). But is it possible you have one of those rev-limiting rotors in your distributor? I know a friend that had one of those and it was faulty and kicked in way too low - when he swapped it out for a normal rotor, he got his high rpms power back.)
HTH?

But is it possible you have one of those rev-limiting rotors in your distributor? I know a friend that had one of those and it was faulty and kicked in way too low - when he swapped it out for a normal rotor, he got his high rpms power back.)
HTH?

-Yes that is possible and perhapes even likely. My 'vette has a Mallary Unilite disto and that's (loss of power at xxxx rpm) what it does at 5500 as a rev limit. Just retards the spark until the motor stops pulling. Not a bad idea unless it gets out of whack, like yours might be.