Does it smell like it's rich? or are the plugs just black?
Interesting .. No, it doesn't smell rich at all. My previous engine did the same carbon plug thing on idle (except smooth with a solid 20 inches)but ran perfectly for decades. However, it was pretty 'hacked' together and I had always assumed it was running "wrong". Having hit 50 with finally the means, I vowed to get it as the factory intended correct this time around.
Part of the to get done list this time around is a passive O2 sensor - the exhaust is currently elbows and arseholes clamped together sufficient for initial starting. Once I've got the brakes on I'll take her down and have a full proper exhaust (with O2 bung) made up, and I'll know exactly what that particular score is.
Joe - it'll take a few days for an answer. Work week now

. But if I'm not mistaken the main metering rod size, or adjustment - shouldn't affect the idle, no?
Steve - She is running reasonably well for 15 minutes of mucking about 20 years after forgetting how, so we're not suspecting firing order, assembly, etc. (Although 5 years on a stand makes me paranoid about such things as a weak spring, toasting a cylinder wall, etc.) As well, the ignition is HEI - no points. Plugs at .035 - which in my experience will make just about anything American start and run.
I do recall the factory specs calling for .060, but that anything much over .040 and change didn't like a firm pedal in real life.
Idle at 750? That seems high to me, but whadda I know!
Lol, was trying to recall myself whether it was supposed to be 500 or 750. Dumbest thing I ever did was get rid of my old school "Motor" manual, which unlike the Chilton/Haynes (okay, they can come in handy for trim info) was chock full of useful information.