318 Motor, please help

Glad you made several big steps forward.
:thumbsup:
Doesn't always go that smooth. LOL So this is good.

Your call on the PV. 8.5 would be a good bet.
Here's why. We're going to cheat a little. We don't know what the step up vacuum is for the original carbs (BBD). But we do know the situations when vacuum advance is not needed or desired. Remember what vacuum advance is for? So the two work hand and glove.

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At 10.5" this engine had little bit of vacuum advance, 2 to 8 crankshaft degrees.
So below 10.5" vacuum, it was probably getting enrichment on the original carbs.
Based on this.
8.5 is a reasonable guess. If they only have a 9.5 or 10.5 in stock, either would also be OK as a starting point,
and 4.5 seems way too far into the throttle before enrichment.