Only runs 40 Degrees advanced

Before you take the engine apart to check the cam timing, you can do it with just the valve cover off.

Run try number 1 cylinder to cross over (overlap) and look at the rockers.

If both are open the same, the cam is in straight up. If the exhaust is open more, the cam is retired. If the intake is open more the cam is advanced.

Unless the cam is way off, you only see .010-.015 difference at most. If it's more than that, you be probably bet the cam is off.

Again, be leery of living and dying by the A/F meter. I've seen them read differently between the same brand. Different across brands. Move the sensor in th collector and it can affect the reading.