UPDATE!!!
Well the verdict is in and here is what I found out and did.
First I adjusted the valves. The valve covers were leaking so I figured I start there. Low and behold a couple of you guys were dead on....the valves were way over tight!! Its amazing how far I had to back a few off.
Next I worked on the carb. I switched the primary jet to a .95, the metering rods and springs and the secondary jets to .92.
I then set the idle to 725 rpm and dialed in the timing. I set it to 36 degrees at 2500-3000rpm. I was advanced by 2 degrees from previous setting.
Went back to the carb and fined tuned it.
I now have a great running truck! the test drive went well with no flat spots or hessitation.
You guys are great, thanks for all the info. I am now trying to chase an electrical demon.
Mac