4.9 second laps is too much speed (if not power), yes. That, and dead rich means that the venturi is too big for that setup, no matter what the next guy over is flying. I'm surprised it's not running away on you (well, more so than already).
My recipe for the 46LA (and 25LA) is to start with the right prop and fuel, then keep restricting the engine until it flies right. You can either do this with a smaller venturi, or by piling on nylon mesh (find it in the wedding dress section at your local fabric store, or ask at your local florist). Hold it on with a rubber band or O-ring. The nice thing about mesh is that you can tune it at the field, by adding or subtracting layers.
If it runs away, there's not enough restriction. If it "thins out" in maneuvers instead of staying authoritative, there's too much restriction (because you have to launch lean to get the power you need). For either one, the motor may need a good cleaning, or even a rebuild. If you just can't get there from here with that motor/prop combination, reduce overall available power with a bigger prop (go toward the APC 12.25x3.75) or increase overall available power with a smaller prop (go toward the APC 11x4).
Figure that whatever else you do, a heavier plane is going to use more fuel when it's working properly. My Fancherized Twister, at 54 ounces and 5.2 second laps, uses 4 ounces of Powermaster GMA 10% fuel (with 22% oil, 50/50, and doctored with a bit of Coleman camp fuel). My Walker Atlantis, at 64 ounces and 5.3-5.4 second laps, uses 6 ounces of the same fuel to do the same thing. I have some 40-45 ounce trainer planes that use Tower 40's and APC 35's that only need 3 - 3.5 ounces of fuel for a complete pattern.
I do not think that you should just make one more venturi and try it -- if you're not going to tune things with mesh, then make three venturis in the 0.270 size range and see if going up or down in size helps. Then make more as needed, either smaller or larger. (Brett Buck has some recommendations on how many to make, and what sizes -- I looked at that, thought "ugh!" and kept to my bright purple nylon mesh).