You will not have a monster puller with that combo. Should do better then it is but it is not going to be a tire roaster.
First off disconnect the vacuum advance and cap it off at the carb. Get a timing light that has the knob on the back so you can see the timing. 8 to 10 initial should be fine.
The way I set mine is by having somebody run the car up to 5k rpms and set the total timing to 34 - 36 depending on what gas you want to run. 34 for low octane and 36 for Hi test. Leave the vacuum advanced disconnected for the moment.
2nd I suspect that the AFB carb is dumping too much fuel and is causing the car to bog. An easy test for this is to find or borrow a Holley 1850 Vacuum Secondary and put it on. If the bogging higher up goes away you are getting too much fuel. If you can't get an 1850 then disconnect the arm that actuates the secondaries on the AFB and wire them shut. So you run it as a 2 barrel and see if the sluggish/bog goes away.
A cheaper thing that might help. MSD 6a spark box. Much better spark, you can open the spark plug gap to .45 - .50.
A set of 3.55 or more rear end would be the biggest help followed by a mild cam shaft.
What are you running for an air cleaner? An open element 14" would help it breath. Are you running stock exhaust? A Y pipe to a single? This could also cause some issues as you want to gain performance.
HTH,
Dan...
