*******UPDATE*******UPDATE*********UPDATE********

I got the wideband guage installed. I haven't jumped into tuning much yet, just wanted to pop in to post this:

Engine as is without touching anything: 9 1/2 inches idle vacuum at 1000, 4 in gear at 700-800. Idle mixture screws were only 1 1/4 turns out from being seated. IN GEAR the guage reads between 15.0 and off the guage which tops out at 18.0. When I revved it above idle, it pegged past 18.0!
I had a feeling it was lean!
I seated the idle mixture screws, then backed them out a full 2 turns. Idle vacuum went up to a solid 10+ with 5+ in gear. At idle, the guage reads between 14.0 and 15.0. It still pegs when I lean into the throttle.
Here is a thought: The primary side is running lean with the 86 jets. Being that I have 5.0" of vacuum and a 6.5 Power Valve, I think the PV may be covering for the UNDERjetted primaries. When I rev the engine, there is no additional fuel to keep the Air/Fuel ratio in check.
Sound right so far?