Well, I threw the timing light on it this morning and the marks were lined up 4 degrees ATDC per the hood data plate. That is were I left them following a Pertronix breakerless ignition upgrade I did. The shop manual called for the same with the vacuum hose attached and 8 degrees with the vacuum hose off. When I took the hose off the timing stayed the same.
I brought the timing up to 8 degrees BTDC without the hose, then replaced the hose and went for a spin. Runs like a new motor! Unbelievable!
No pinging or startup problems either.
I am obviously not out of the woods yet because I still have a timing issue to diagnose.. but nonetheless a good starting point.