If it falls down at 1000', look at the fuel system.

Brian's suggestion on initial and total is pretty much where I'd run it. Might want a few degrees either way on initial, 16 is a good start. If you give the engine more initial and it picks up RPM, it wants the timing. Reset the idle speed and do it again. As long as it starts OK when hot, I usually run as much as it will handle or that number and dial it back a couple degrees.