Kyle;

Seems like this post is wandering a bit. Please don't get me wrong, but you seem to wander a bit on this project too.

The engine is in, it works, it doesn't spit out parts and has decent power... Yipee!

Now. Stop, relax and take a deeeeep breath.

Just start with a tune-up. All those little bits and adjustments that make life sweet.

Not to squash a dead cat but...

#1, change oil and filter.
#2, change cap, rotor, condenser, points, plugs and wires. Set gap to stock dimension.
#3, set valve lash. Phil's suggestion of .016" sounds fine to me as I have had several cars with similar duty cycles and construction that also used .016" You may want to check the condition of the rocker and valve end by pushing the rocker to the side (when the load is off, i.e. when you are adjusting it) and checking for scoring (use finger and fingernail for rocker face). Using a wire-type feeler will be easier and more accurate if there is significant scoring.
#4, set point gap or set dwell. Dwell seems easier and more accurate if you have a meter.
#5, set timing. 10 degrees BTDC is a good place to begin.
#6, warm up engine.
#7, adjust carbs. Rhys must have sent directions but as a recap, you...
a) disconnect throttle loosen choke and loosen connection between carbs.
b) balance carbs so each is drawing same amount of air.
c) set idle and re-tighten connection between carbs.
d) check mixture.
e) check balance.
f) re-set anything that got out of whack (like idle speed).
g) set choke.
h) adjust throttle linkage and re-attach.

Done.

Note, always fiddle with the carbs last.

I think you may be pleasantly surprised with the outcome.

3/4 throttle vs full throttle may not make a big difference in the top end or in the acceleration. The engine will only pull as much air as it needs. But if the cam is so tired that it needs replacing then you should be questioning the whole motors ability to go on.

Mike!