Can someone tell me what is missing here???

Right now, the OSAC valve is in the middle of the hose that runs from the carburetor to the distributor. Run a new length of hose between those two end points (carb and dist) without the OSAC valve. The OSAC valve will happily sit there doing nothing, and you'll be considerably happier with how the car runs.

As for the EGR, sounds like your car did have the vacuum control switch. Probably going to be medium-difficult to find a new or working used one. Whether to put the EGR system back together depends on what the engine configuration is and how you plan on driving it (and your local emission laws).