Originally Posted by cobalt327
What does a vacuum gauge
reading look like? Have you done a compression test?
What about the float level? You mentioned the plugs were gas fouled- that should not be happening. Fuel pressure excessive? Plugged air bleeds? Blown power valve? See if it'll stay running or stall out when you screw the idle mixture screws all the way in (count the turns so you can return them to where they were, or plan on readjusting the idle mixture, engine fully warmed up).
Could be too-tight valves. Might be time to bite the bullet and adjust the valves w/the engine running. That way there's no doubt where zero lash is. I'd still check for vacuum leaks, etc. first.
Another thing to look at is the rotor phasing
That's what I was leading up to in post 10..