Solutions for too much compression

There’s two parts to tuning a carbureted engine: timing, then the carb itself.
My thoughts-
Timing curve is too fast. If you have “two light”, or “one light and no 2nd” spring in the distributor you need to get a stock distributor “light” spring and either install in the empty spot, or replace one of the “MP light” springs. Or lighten the counterweights. The advance shouldn’t start until about 1500 or so and be all in above 3k.

I would use the vacuum on the ported vacuum port. You can adjust the level of vacuum required to move the plate by inserting an Allen wrench into the vacuum nipple on the vacuum can and engaging the screw inside there (11/32nds ?)

You MUST tune the carb. Check the idle vacuum in gear once you have 15-18* initial. Then buy a power valve that’s about 1-2 inches below that vacuum reading. I would also jet up 2-3 jet sizes (I think it has 72s), and buy the vacuum secondary spring package and install the purple spring.

That’s what I’d do.
I like it. I guess you are saying that the mixture is too lean and that can contribute to pinging?What is the best way to see what the carb is doing?
Install an 02 sensor and gauge, or do I need dyno time ?