My 340 getting 6 mpg

My timing is 10 initial and 34 advanced. I ordered a 4.5 power valve and im going to see what mpg i can get this saturday
10 initial and 34 total doesn’t really tell us anything about your curve. You need rpm with it to understand what your timing is and when. If it’s all in at 3500 and you’re cruising at 2800 then you really don’t have enough cruise timing.
Plot your timing against rpm and like I said before, if you want MPGs you need ported vacuum advance to bring in another 10-15 degrees at your cruising vacuum.