Thanks for your reply Cracked...
It supposedly had a "mild cam" according to PO, so I'll move it up to 16ish to see how it runs. The "bulge" on the diaphragm installs away from the carb, towards the cover, I assume. Thanks Rog
Correct. Spring goes in first on bowl, with bulge fitting down into the cover.
Check your total timing before bumping up the initial. You may get into an area where it will ping. Some big blocks can handle 40*, but that's not usually the norm.