UPDATE - I purchased an edelbrock performer and installed it this past weekend. I also learned that my holley carb is has "dual lines" and is not a double pumper like I had previously thought. My neighbor helped me adjust the fuel mixture, and tighten down the accelerator pump. Today I learned that the previous owner installed an electronic ignition, so I did not have to set the points. I just timed the motor to 14 degrees ADC and took her for a spin. I have to say - WHAT A DIFFERENCE There is so much more pep in her step! If I accelerate out of a turn. The car still stumbles when I step on the ignition, but compared to what I was dealing with before, its like night and day.
One thing I noticed though was that my vacuum advance no longer seems to be working. The only reason I think it isn't working anymore is because I disconnected the line prior to setting the timing, and after reconnecting, the timing mark does not advance. I am not positive, but I believe it was working a few weeks ago...