I have posted before and have had excellent help.
I am close now.
I am also stubborn and a very 'green' mechanic.
the readings are:
HC ppm Limit 112 readings between 9 & 12
CO % Limit 0.63 reading always 0
NO ppm Limit 1252 reading started at 2511, 2002, now 1572

I have installed a new oil & filter, new spark plugs, new air filter, new oxygen sensor, I have adjusted the idle speed and have tried to adjust the timing. I found that it is hard to read the timing marks that sit above the fan belts. So I may be out alittle there. All I know is that when I adjusted the timing I sure find the car is 'lazy' to drive. Some one suggested that the catalytic converter may be done but it looks sound, and the shop that tested the car did not think that that would be the problem ( but I am not sure that they care ). The temperature of the car seems normal, the needle sits in the same position - mid point on the dial like all my other 240's did before. I have a Haynes book that I pour over to make sense of what other tests to try but the book covers alot of other years so I get a bit confused. Any other info or insight is greatly appreciated and in the mean time I will keep prodding along to see if I can figure this out. If I do I will inform the board so that I may be able to help other emmissions failing 240's.
Thanks,
Nick