Sounds like your timing is off several degrees, check that first. Plug gap needs to be wider with HEI, I believe .045. May need to re-curve distributor to cam in your engine. #16's are high compression heads, what octane gas are you using? All these things can contribute to an engine running hot & pinging. Put the highest octane gas you can buy in it, may have to mix some racing fuel or Av-gas in to meet the requirements of your engine. Changing the advance springs to lighter ones may help distributor advance quicker.
