B&M Converter is bad

Since you've discovered what I'd call a fairly serious leak(s)..........don't worry about the vaccum gauge or setting the idle until you get that fixed. By the way, horsing down on the carb bolts is a sure way to CAUSE a base leak. Hold your ratchet up by the head like a screwdriver with your hand wrapped around the top.

Timing jumping, could be something worn in the dist, drive, or cam gear, or even the block bushing, but if it's not idling smooth, that will cause it too. Again, fix the leak.

Sounds like you have gained some ground so try to keep "un" frustrated.

Thanks for the input.
Just so you know, the leak is not at the base of the carb but actually the upper portion of the carb.

I know the block has a new bushing for the distributor, but the distributor itself is original and who knows how old and how much play it has. I will see if I have another for the future.