OK, so I made some adjustments on my own, the car ran too hot again today... and I can keep playing with it till I get it right, I do not think I can hurt it any more than I already have.
Here is a play by play on what I did.
1. I pulled the wires one at a time and moved them around the cap in counter-clockwise fashion, the can was hitting the oil stick and I could not move it any farther inward.
2. I backed the timing down to compensate for the plug wire move.
3. Started the engine, and set the initial timing to 14 degrees (this raised the vacume to 16 inches and raised the rpms, etc...
4. I backed the curble idle screw out till it hit 900rpms...
5. adjusted the mixture and noticed a big difference in the way the screw affected the engine, before they did nothing till they were almost closed, now they act like they should about 1 turn out things sputter, add another turn and things improve and vacume improves slightly.
Now the engine was at 14 degrees, 900 rpms, and it dropped to 12 inches vacume again, almost exactly like it was at 7.
I advanced the engine to 16 degrees, again the vacume and engine went up, I backed the idle down more, and closed the mixture screws another 1/2 turn.
So right now it is sitting at 16 degrees, slightly unsteady idle at 900, and a slightly unsteady vacume reading of 14 inches. It runs cooler, and I drove the car around the block a few minutes ago, no ping, but the engine might still be running rich. I do have a noticeable drop in power, it was punchy before, it is a little flat here.. it idles a little better, smoother, but not that much different.
The thing is as I drop the rpms the vacume level drops too... get it down to 700 and the vacume comes in around 10 inches and it begins to surge really bad, could be the power valve will not stay closed at 10 inches, so dropping it at or below that is no good. but keep it at 900-1000 rpms and it idles like a champ.
I am going to drive it for a few days set like it is now.. timing 16 degrees, vacume 14 inches, and rpms 900... it stays pretty steady and is not running hot... see how this goes...
I may try to set the initial even higer, like 21, and attempt to dial in the carb there, and eliminate the vacume advance and see how it runs like that...
thoughts?