Are the points and timing set correctly ? We just talked about this again in the above thread.
On most vehicles with the lever up the engine idles very slowly. Pull the lever half way and the idle speed should increase. Pull the lever down fully and most engines will start to roll and idle a little rougher.
I too am one that doesn't think these monsters need 40º of advance. Once started I pull the lever to 9:00 to 8:30 and leave it there for 99.9999999% of the time. Mine doesn't make any difference that I can notice at full advance and I can't notice any sign of detonation, but, I don't run it there anyway. I've not bothered to check, but, I'm thinking 9:00 is about 25-30º and 8:30 may be about 30-35º, thats enough for me.