The Pertronix units have aquired a pretty poor reputation for reliability.
Here is a total test procedure for hei. You may consider going back to that GM module. Cheap and reliable. Your 78 shouldn't have an ecm.
:)
You've got that backwards,
fires out the usally lean
out the exhaust, usually rich.
Sounds like you should get your carb straightened out first before disassembly anything and advance your timing to 36* total without vacumn.
Then check your rocker arm heights with the valve cover off to...
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