Fuel issue, either carb or tank. Did you drain the tank and put in fresh fuel? Is there an inline fuel filter between the tank and carb? Rust in the tank? Filters on the petcock clogged?
Between a 30 year old fuel tank and sitting for 7 years, I'd start with the fuel tank first. Drain, flush, and inspect. Rust in the tank? If there is, that will have to be addressed. Check the filters on the petcock. Then disconnect the fuel line going into the carb and turn on the petcock to make sure you have good fuel flow to the carb. If that all checks out, then the problem is in the carb itself. The jets in a carb are tiny and it doesn't take much to clog them. The fact that it runs with choke but not without is a good sign of a clogged jet. Also could be your float is stuck and not allowing more fuel into the carb. Try the float bowl drain and see if fuel comes out.
Lots of things to check and any one of them will stop it dead. The good part is most are really easy fixes you can do yourself and pretty cheap parts.