There's no way you can run a stock MP dist, it needs more intial timing and max of 34 or so. A stock MP dist needs to be setup for your engine combo. Like RRobert said, make sure it is idling with the mettering rods down also. Loosen the screws and swing the covers out of the way and look at them while it's idling.
You got 2 carbs? That thing can be a beast and run clean just with the parts you have now. I'd love to get my hands on it for ya.