Mornin' Ace/evening (I think, Al)
I'm thinking that there is a fairly big vacuum leak (gauge goes on the driver's side port, the other wont show much or at all at idle). You can first of all check the hoses for break - I had one, bottom side after I screwed up and installed the dist. 180 out - huge backfire. Do you have that back port plugged or being used? It needs a pipe plug if not used. The front port? A good carb base gasket? Have you done a compression check - that will show up a blown head gasket? Have you lined up the crank harmonic balancer timing mark and checked the dist rotor for #1?
One way though a little dangerous (have an extinguisher near), to check for vacuum leaks is to use a butane barbecue lighter, unlit and run the tip around the the intake and carb base. The engine will speed up if it sucks in any of that gas(the radiator fan sometimes screws that up).
Now - with all of the info several have given, time to sit down and think it through - and on paper. The shotgun approach version works some of the time for a quick fix, but now it's time to go back to square one and do it with a check off list.
Thanks on the b-day, I/we made through another year
Al - that camshaft is medium warm, just like that barby steak. Not quite like it came from a cow(the OEM), but just warm enough so that you notice the difference (it's a Ford Racing 'E' roller)