carb question (Holley)

Set the timing FIRST before you waste any more time! Do you know what the initial timing is set at right now? It's going to go down as you reduce RPM is my bet. I'd get it started and crank a bunch of advance into it and start turning the idle down.

Even if the PV is blown, at idle it SHOULD NOT have enough air flow through the venturis to pull fuel from the boosters... PERIOD! That circuit should not be active at all at idle. That indicitive of the throttle plates being too far open at idle.
Timing wont make the fuel pull over into the booster... PERIOD!
The power vavle is operated by a little diaphram in it. IF it's working normally you are correct. BUT if it gets blown out it will cause it to dump too much fuel into it because it can't close itself. Regardless of the throttle plates position.
I normally agree with you on the affect of ignition timing at idle, but what I think he's got here is an over rich condition. It's very likely, and confirmed by the op that it has backfired & probably blew out the PV. Espescially with no choke on it. I know Holley put a protection in later carbs but I have seen even those get blown out too. Hell, it may not have gotten blown out & may have just gone bad for whatever reason.
It's too hard to sit here at our computers & not have our own eyes on the car to see 1st hand what's going on where. We're all just trying to give friendly advice to a troubled mopar brother.