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Changed the plugs to new acdelco r45ts like the ones that were in it. Fired up, no problem. Adjusted the floats to center of glass, adjusted mixture screws to @ 1 1/14 turns. Ran good but had low idle. Adjusted timing by ear. Adjusted idle screw on secondary up 1/2 turn. Runs like a champ. Found #4 plug boot arcing on header and changed boot (from some spare wires) but this wasn't problem.
Lessons learned: @ $100 later (coil, module, cap, rotor, plugs)
1. If plugs are black, they won't fire for beans- no self cleaning here
2. Balancers can lie (I will rescribe the balancer and see if it slips again - find TDC per Lars post)
3. Demon carbs are VERY touchy!
4. A 3k converter begs to idle - and load up and foul the plugs! Gotta learn to suck the gas and keep the rpms up or go to hotter plugs.
To all, thanks for all of the advuce. I still need to do a compression test, scribe the balancer and see what kind of advance I have.
There is no reason for a car with a 3000 RPM stall speed to not want to idle, if anything is should idle better than a car with too tight of a converter.
The first thing you need to do is check to make sure you've got the right balancer, and timing pointer on the engine. They make different models, and if you have the wrong one you won't be able to set your timing. If the balancer has actually spun GET A NEW ONEyour bearings will thank you! Do not rescribe it!
Once you've done that then you can go through and actually set your timing, and adjust the carburetor properly.