"Chris: I've had 2 carbs - one good Solex, one new Pierburg, both 34Pict3, with little/no change.
I can adjust the volume screw on carb up/down and the idle mixture screw in to "starve" the motor or out to richen it - it reacts just like a normal engine, but all the while the exhaust is eye-watering rich and the idle very lumpy (at best). "
A while back I had a 1915 engine that was doing this, and it was an overly restrictive exhaust that was partially to blame. Idle was always rich, HC's were off the chart..and I could not get the idle leaned down. I took the baffle out of the stinger..and whala, it cleaned up considerably. Going on a few assumptions here...if you have a stock exhaust, are the peashooters pushed all the way into the muffler by any chance?
I'd still like to know how much vacuum you are drawing at idle and to know what happens to the vac gauge as you slowly advance the throttle. As you leave idle it should momentarily lose vacuum and then come back equal to or slightly higher than the idle reading. Continue to about
3000rpm. Progressively decreasing vacuum could mean an exhaust restriction.
If your idle vacuum readings are very low then things lend themselves more easily to the cam possibly being installed incorrectly. If the needle is bouncing around at idle we need to know how much it is moving in terms of inches of mercury on the gauge to make a guess as to what is wrong. The fact that you need 20 degrees of advance at idle to keep it running is probably a bad sign. If you return the timing closer to stock and see the vacuum drop off with it sounds like a cam timing problem.
Chris