The float level can make a big difference when trying to tune a engine. There is a tube or fuel passage in the carb that sticks down in the fuel bowl. When fuel is needed buy the engine, vacumn pulls on the tube to draw fuel out. There are air bleeds in the top somewhere to let air in with the fuel. With out the air bleeds, it would draw way to much fuel. By raising or lowering the fuel level, more or less fuel in drawn in. Its just like drinking out of a straw, with the cup full its easyer to get a mouth full.
The distributor will fire any plug at the end of a good wire. The resistor is there to cut out electrical noise in radios. They won't hurt a thing. It will cost you a set of plugs if they don't work out. Its part of tuning. You never know what will help if you don't try it. Joe