First i would get a simple spark tester that is adjustable and can read the kv output of the the spark i have one in my tool box .
MSD should jump a blue 1 inch long spark no problem . 45kv no less.
second you could take a flash light and look into the throtle at the main boosters to see if it is dumping fuel there should be no droplets coming from the boosters under say 2800-3000 rpm .
If you see the boosters dribble fuel at idle then floats set to high or fuel pressure to high.
third 7 psi is not that high but i would follow the Edelbrock recommendations. Do you have a fuel pressure Regulator?
IF no i would get one! and set the pressure where you want it.
Also you can use a timeing light to see fuel spray coming from the booster in the carb throat while increasing the RPMs.
Also could the timing have changed ?
that motor prob likes 18 to 20 deg initial at say 1000 rpm and 34 total all in at 2000-2200 rpm.
I would start with this .