1st, make sure you have a carb and dizzy that match. The distributor you have is for a 67 or earlier engine using the Spark Control Valve ported vacuum to control vacuum advance. This is a poor performing system because it does not properly compensate for rpm changes. I.e. it has no mechanical advance. It relies solely on a very weak change in vacuum in the carb to try and measure engine load. There are several versions of the Holley and Autolite 1100 carbs. Pre-68 models have the Spark Control Valve (SCV) required to use your distributor. 68 and later carbs do not have the SCV and must be used with a 68 or later dizzy that has a mechanical advance system in addition to the vacuum advance. This later system performs much better and can be much more accurately tuned for performance and mileage.
2nd, get a Pertronix and replace the points and Condensor. This will give you a much stronger spark and more accurate system. Consider upgrading to their high output coil as well. This will allow you to run a wider spark plug gap increasing performance and fuel economy.
3rd, set the base timing with the vacuum advance disconnected to 10 deg BTDC. With a vacuum gage, connected to a manifold vacuum port adjust the timing to get maximum vacuum. Reconnect the vacuum advance and test drive. Floor the car hard and listen to see if the car knocks. If it does back off the timing 2 degrees at a time until the knocking stops.
4th, retune the carb. Adjust the idle mixture to get maximum vacuum. Turn it in until the vaccuum drops, then turn it back out until the vaccuum no longer increase. The reset the idle speed with the idle stop screw.
Note: all of this assumes you have already ensured you have no vaccum leaks, the cap, rotor, wires, fuel filter, plugs etc are all in good condition.