Poor idle

Update: I followed slant six Dan's set up for setting up idle, car started great, fast idle works good, started to idle decent. Drove it, accelerated ok, but after I stopped the idle dropped to the point where the oil light started flickering on and off. Then drove it home and it still idled poorly, slowing down and speeding up slowly and by this time the accelerating started skipping and bogging a bit.

Idle circuit does work now though. Out of the exhaust you can hear it go pfft pfft rumble rumble pfft pfft

Any thoughts?