Thanks, but there is still a problem. With timing set at 18 BTDC i went for a test drive. When giving it gas the engine starts breaking down. I'd pull over and turn the Dist. about an 1/8 inch and the engine ran better. I did this a few times and it ran better each time. I stopped increasing because I was getting worried of damaging something. When I got back I measured initial timing and it was at 38 BTDC.
There's a couple more things in this string that I still haven't checked or done that I hope to do today and I have a pretty knowledgable friend coming over to take a look. If no luck after that I'll call my machinist and ask him to refer me to an ignition/tune up guru that he trust. From there the guru will either fix my ignition or tell my machinist he has a problem. That's my plan.