Slow 1/8 with 74 440 dart

Yes, you need to fix the timing issue before you race it anymore. Detonation at high RPM is an engine killer. Like real quick. Limit it to 34 degrees all in by 2500. I'm not nuts about the 30 degrees initial either. I would mess around with that too. I think another big chunk of your issue is the converter. It's not enough. I'd have a 3800-4200 converter in there that's tight enough for the street. 3000 is nowhere near enough.
i street drive it every now and then so i went with the 3000-3500 stall and it flashes to 3000. i could withstand more stall on the street though as i'm not too bothered by it. thanks for the advice on the timing. not sure why it likes so much initial though. anything below 25 and it idles like crap. and obviously the idle just goes up all the way to 30 initial. i've messed with the carb a lot and it's not carb related. new plugs and wires has the same issue. i know these low vacuum mild lift big duration cams like timing but damn 30 surprised me. i triple checked to make sure the balancer wasn't slipped lol