Car starts and idles fine when cold, but when it is at operating temp it idles fine in park but when I put it in gear it drops down just enough that I have to apply light pressure to the gas pedal to keep it from dying. Is it normal for the rpm to drop from in park to in gear? If so how to I compensate for it since it idles fine cold and in park at temp?
Try increasing the idle speed on the carb. There will be a screw that you can turn out on the carb's throttle linkage that will cause the throttle linkage to not close quite so far. It is normal for there to be some drop in rpm when you put it into gear.
There is an adjustment for this on the bottom of your choke on the left side of carb. Wait until it's warmed up and turn the screw until it's the way you want it. Jim
Also, your mechanical advance may be "active" at idle, and the slight drop in rpm may cause the timing to retard, which slows down the idle, which retards the timing, which ...... Same thing with your vacuum advance. Either or both can be checked with a timing light as you put it in gear. But Like Banshee said, check for and fix any vacuum leaks first!