Weeds,
Cannot tell you exactly what compression numbers you are looking for, as it will depend on your compression ratio and camshaft. There are others here which are far more advanced engine builders than I.
In general, I would be looking at:
(1) compression on first revolution
(2) deviation of each cylinder max compression vs average for all cylinders
(3) ratio of average compression vs recommended average for cam and compression ratio
For ignition, I would try to find a local hobbyist with an oscilloscope (I bought a new old stock one that was obsolete many years ago for $5.) This instrument is fantastic in its use, and you don't have to know anything about it. Get the picture book, and compare the picture on the screen to the picture in the book. I once found a bent distributor cam when not a single Chevrolet dealership in central Missouri could find it!!!
Fuel pressure is easy. Acquire a fuel pressure gauge, and temporarily install right at the carburetor. Again, I can not tell you what pressure to look for, as I have no idea what fuel valves the builder put into your AFB. I run 7 1/2 PSI on my twin AFB's but I run 0.093 inch fuel valves. If your builder put in the 0.111 inch, maybe 4 1/2~5 PSI. You have to know what has been done.
And a 500 CFM AFB from a Chrysler on a Chevrolet engine is a TERRIBLE idea. Check the second and third lines in my signature!
Jon.
