Holley Help Needed

Graham, first for now who cares what the initial timing is, just set it the total to what it runs best with and then find a way to increase the initial to the point where it'll still turn the motor over without the compression fighting the starter.
Example 25*initial and 34* total.

Try the lightest spring in the vac secondary spring kit and go from there increasing the stiffness till it doesn't bog at wide open throttle.
Gotta go get back at you later.

340val, it pinged when he advanced it where he's at now, he's good. If he can advance/retard the total, like a MP distributor can in the Malory, that is the next step for the distributor. I'm not sure what that distributor can do as far as adjustments.
Otherwise, I'd go your way for starters.
I made this like mention with a MP adjustable earlier.

OZ, it may be falling over due to cam size or other things. Your going to have to make one adjustment at a time and see where it goes and go from there.