I want to thank all the Brickboarders that responded with their ideas about my problem getting a fresh rebuilt engine to run properly.
After all the efforts to pin down the problem, it turned out to be the Camshaft.
The P/O had the engine built and balanced by a professional mechanic. The mechanic passed on, so information about the build itself was not available. Turns out, for some unknown reason, he installed a Racing Cam. It ran very strong at high RPM, but would not idle below 1500rpm.
I finally removed the cam and installed a 'K' grind cam from Iskyderian. Problem solved.
I plan on bringing the car to the Volvo get-together this coming weekend in Kansas City. It is now a rolling, running, self propelled Unit.
If any of you are at that show, please make yourself known to me. I'd like to thank you in person for your interest.