Finally had time to test drive. 85F heat, some traffic and bingo - even hot still fries tires! What I did is replaced orange box with a ... $19.99 NAPA blue box. No other changes. Timing is 20 initial and 40 total now but no pinging.
Time to get a revenator... sad it's sold out everywhere.

PS
I don't have fuel return line - fuel system is totally stock. I have a 1/2" phenolic spacer under the carb but I still have to crank several times to fire up the hot engine - fuel evaporates from the carb.