My guess is the reason the Edelbrock 600 ran better is that the Quadrajet that was there before may have needed calibration for better performance or it might have needed repair.
With Vette Magazine's Big-Block from Hell project, there was a short time when we had dual Edelbrocks on the car with a full progressive linkage, ie: cruising on a single carb. I had worse problems with that carb than listed here. I could get the WOT to run great but part throttle and transistion baffled me. I tried different rods, jets, float levels...even changed boosters and altered air bleeds--all the time while using a O2S-driven AFR meter to tune--but I could never get a consistent fuel curve cruising at light throttle. Additionally, I had terrible problems with fuel slosh. Under high lateral acceleration and braking the damn thing would go way rich and even flood the engine to stall at low rpm. No float level change could solve it..
I learned later the AFB design has a float chamber that lacks in fuel control. In fact, that is one reason GM stopped using AFBs at the end of the 64 model year. It's also one reason why road racers of that era, running SCCA's old production clases, had constant problems with AFBs exiting turns and under braking.
As to what's a better choice? Well, for engines, other than all out racing engines, requiring 750 cfm or less, the Quadrajet with proper calibration is the best choice--certainly better than the AFB and in many cases better than a Holley. Admittedly, the problem with the Quadrajet is complexity (compared to the Holley or the AFB) in tuning and adjusting.
Back, before the Big Block from Hell was a project car for Vette Magazine, it had a near-stock 454/365. Mods were a Melling 396S cam, low restriction exhaust, a recurved distributor and a properly modified and calibrated Quadrajet. The car had great throttle response (typcial of QJs) and ran hard. It was built by the late Brad Urban (who later started a business called the "Carb Shop" and specialized in QJ performance mods) The car ran 13.7s at 109 with a 3.36 gear and street tires.
Remember, the AFB was on Corvettes for only three model years. The Quadrajet was on them for 16 years. There's got to be a reason GM deep-sixed the AFB so soon. Also, there's got to be a reason even Edelbrock sells a version of the Quadrajet design.
Now, this is not to say that the Edelbrock/AFB can't be made to work in some situations. Where the carb seems to have trouble are in cases were there is high lateral acceleration or braking forces. Also, cases where the engine has a high-lift, short-duration roller cam and very high vacuum signals are present at part throttle can also be outside the AFB's performance evelope. If those two situations are not an issue with a particular engine set-up, then the Edelbrock is an acceptable carburetor once its properly calibrated.
What I'd do is take that Edelbrock 600 back and try and exchange it for Edelbrock's Quadrajet clone.
As for the above engine configuration, unless it's operated mainly at high altitude, I think it's really iffy on compression and a maybe too agressive on spark curve. You probably can live with 10:1 and the aluminum heads, but you'd better make damn sure that engine cools well and has cold air induction. With your spark, I'd recurve to 34 total with 10-12 initial then I'd add vacuum advance of about 8-10 deg. You wanna watch how aggressive the curve gets in the mid-range. I'd make sure I was running a fairly cold spark plug, too. Also, your WOT air/fuel ratio will need to be spot-on and maybe a teensy-weensy bit rich as a detonation hedge. Whatever you do, you do not want the engine running lean--even at part throttle--with that advance curve.
Be careful if you run the car hard with the spark curve you have, now. In warm weather, she'll may be detonating no matter what kind of pump gas you find. In fact, when you run the car hard, you'll be smart to add some 100-oct. unleaded race gas to the tank such that your overall octane is about 94. On your cam: who makes it? Is it installed straight up? Is it a roller or a flat-tappet grind? Mechanial lifter or hyd?