what is your fuel pressure? too much and it will push gas resulting in your smelly problem. As mentioned 10* initial isn't enough and 30* total isn't enough. It could be pining if you are sucking oil from the intake and it doesn't take much and you might not see any eveidence of it. How do you have the carbs set up? Is it rich at idle or in the cruise circut? I'd try initial at 15* total at 34* in full early...like 2200rpm. Then I'd adjust the carbs for best vacuum. Are you sure it's not going above 30*?