That setup needs at least a 10.5 compression ratio,  Your ignition advance should have been closer to 36 - 38 total  at idle you should have been around 12 deg  and main jet seems small for that cam, if it smelled real rich it was probably so lean it was not firing...I was running similar cam carb ##'s   the cam ###'s were at 0.050"? or is that the advertised spec?  I never dyno my car but it was running 10.02 quarter miles      weight vs 1/4 mile times   I calculate I was about 620 hp.....although  I had MUCH MORE into it....  O ringed Block and good old 150hp NOS shot    Too bad I never saw this post way back when you wrote it...

I have a Rebello 42 head on an L28 block w/triples with no issues making more HP.