The timing marks work the same for elec. ign as points. Set it about 6 degrees with the vacuum unhooked. Read the plugs. After a drive, pull a plug or 2 & see if there is carbon on them. That would indicate a rich mixture. Many rebuilt carbs are right. First make shure the vacuum hole in the base of the carb has a passage in the gasket to go to the manifold. You can pull the top off the carb & check the float level. Did you use a conversion kit or complete dist.?