KC, nice picture

What color is yours? It looks a lot like the original color of mine which is showing through in a few spots (whoever resprayed it didn't like bending down! The paint is very thick on the top of the car, but is wafer thin on the underside edges with some parts not even covered).
Something I did on mine that improved the low speed running was to increase the base timing. Normally the timing is set by disconnecting the 4 wire connector going to the dist & then setting the timing to 6*BTDC. I set mine to 11BTDC which made pickup better. I could have given it a bit more advance before running into pinging problems, but played it safe. Is yours set to the stock 6BTDC?
There will be 2 connectors on the carb. One will be on the front d.side vertical face & will have 3(?) wires going to it. This is the TPS (tells the computer the throttle position).
The other is more towards the centre of the carb, but on the top, & will have 2 wires going to it. This is the mixture control solenoid. This is a solenoid in the carb which pulls a needle down (the dancing needle) whenever it's energised by the computer. When the solenoid is de-energised the needle pops back up due to a spring under it. The top of the needle has a "wing" on it, the outer edges of which push down on the needles in the primary jets (which also have springs under them so that they go back up). By energising/de-energising the solenoid constantly, the computer controls the position of the primary needles in the jets, to give the required mixture. The clicking you hear is the solenoid working. The overall limits of movement of the primary needles is determined by the fully down (weak) or up (rich) position of the dancing needle. These positions are set by the rich & lean stops, which are adjustable, but have anti tamper plugs fitted over them at the factory. Doug Roe has written a book on Q-jets that also covers how the E4ME works, which will give a better explanation. On cold start, or at WOT, the computer goes into open loop, which means it stops reading the O2 sensor & de-energises the M/C solenoid to give a full rich condition. If this is the connector that you are disconnecting then that is what you're doing ie. giving it a full rich condition, implying that it is running slightly lean as it runs better unplugged.
There's also idle mixture screws & an idle air bleed valve for controlling the idle mixture.
If you look at the wiring harness that runs from between the carb to the A/C compressor there should be a green(?) wire coming out & just hanging there. It'll have a connector on it & this connector is used for measuring the dwell. What you need to do is hook a good analogue dwell meter on it, set the scale to 6 cyl, & you'll be able to see what dwell the computer is kicking out. This is very useful info & is the best way to setup or check the primaries operation. Can I mention another forum?! Rather than typing all this up, check out this link:
http://forums.corvetteforum.com/zerothread?id=478251&postid=5186468#5186468
Somewhere in the archives are a couple of really good posts on setting up E4MEs.
17-18 inches should be fine! I think the computer needs a minimum of 15 to work correctly. The next thing to look at would be to see what the dwell reading is for the m/c solenoid. It could be that the carb just needs a minor adjustment.
KPH? Is that some sort of sensor?
Paul