Hello DJPINK1947,
If your car does have the old Holley teapot style carb (model 4000) I do agree that Holley could have come up with a less complicated design and better carb, however I have been doing these carbs since around 1968 and understand what it takes to make them work right. If you keep that carb to keep the car more original, it would be best to go back to the 1955 style distributor (Loadomatic) that does not have centrifigal advance, and only a vacuum diaphragm for the ignition advance. They are designed for the lighter vacumm signal on a T-Pot (taken from the venturi and not direct manifold vacuum). I can help you out with the carb work if you wish (also in MI, northeast of Detroit). If you want to keep the 1957 and later distributor, then your better off with another carb (500 CFM is plenty for a stock engine).
Hope this helps you out, Sal Cicala