It sounds like you have a motor at least. As has been stated already, fix the other small stuff not that you have verified the compression. Check the fuel pressure. It should be in the 3 to 5 PSI range for the Holley. With the electric pump you can do this without running the engine. Anything more than 5 PSI can force open the float valves and cause flooding. Also, since you are having what sounds like a rich condition and its a Holley, check the power valve. If it is bad it will cause flooding. Once you solve the fuel problems you can set the timing. If it won't idle you can set it at a high engine speed (3K RPM) for the full advance point, typically about 26 to 36 degrees depending on which distibutor you have and wether or not you are using the vacuum advance. Unhook the vacuum advance first. If the distrubutor is working correctly it will end up close enough at idle speed to idle if everything else is in the ball park. Really, you should be able to move the timing while the engine is running and set it by ear to get it close enough to idle.