Timing - I have it set on about 8 deg
Fuel pressure - unsure - have thought of putting a regulator on it just incase.
Camshaft - all I know is that it is a Purple Cam - don't know any spec's.
Set initial at 16 and see if that helps. You'll have to turn the idle speed down when you do it and reset the idle mixture screws. You may and likely will need to alter the mechanical advance to hit your total number. I don't even run stock 318's with 8* initial and you have some type of camshaft in the engine. Bump it up.
Is the float level set properly, no fuel dripping in from the carb boosters?