I just thought I would post some results: I took the carb completely apart, cleaned it (polished it also), put in a new power valve of 4.5, and a new "squirter", # 37 , the stock "squirter" was a 28. The power valve before changing it was 6.5 and this was to much fuel at ideal (explains that gas smell). The new squirter really gets the car going, no more feathering the pedal and holding my breath when pulling out in traffic.
Although making these changes did improve the performance of the car, the "in gear stumble" was still happening. Harte3 was correct, I changed to ported vacuum and it worked like a charm (thank you Harte3). I had to set the timing at 23-25 BTDC. 22 was to low, the car would quit in gear, and 30 was to high. So as Goldilocks would say "that was just right". The car is at 1000 rpms in park and now only drops down to 600 rpms when in gear.
I'm still having a little stumble, but I can sit in traffic without the car smelling like gas and having to put it in nuetral at every light.
I hope this helps Mugsy, I am going to play with the throttle plates a little and see what happens, I'll keep you informed. Are you having any better luck, and if so what did you do?