Hey folks! Thanks for all the replies! I took the Carb apart and checked the float drop, and it was off, so I set it properly, 1-3/4". There wasn't any gas in the float. I then worked with the timing a bit, and so far it seems to run a bit better. But, it still seems to have a miss when I rev up the engine from an idle, and hold it. It seems to cut out some. The dist. is new/rebuilt. I just got it a while back from Orielly. The compression is good. The engine only has about 500 miles on the overhaul. The insulator under the carb is ok. It does have the hole, and I'm not sure how it can get missaligned since it slides over the 2 carb mounting studs. Heck I don't know what's going on. I may convert it to 12V and try the HEI dist and coil. I still may try a new carb.
Thanks again to you all!!
KT