I tell everyone the same thing. Just get an O2 sensor. I swear I hate guessing and pulling my hair out also. Its about 160.00 and especially with a tripower and all the stages you can know exactly what you are doing. No more guessing.
My Holley 800 stunk until I got the O2 sensor. I run vacuum advance and have around 28 degrees with vacuum at idle. I then adjusted my carb to 14.5 to 1 in and out of gear and it is within the parameters for the highest vacuum. I pull 14 to 15" vacuum in park and 11" in gear. Having more timing will enable you to run it leaner at all stages. Most people have a low timing which yields low vacuum which requires a rich idle for it to run well.
No way I would run what I have without it and especially no way I'd run a tripower and its complexities without it. You want it right, get the ignition right then install the O2 and then tune it to the O2 and enjoy.
Got it on ebay for 155 or so and its a joke to install.
http://www.innovatemotorsports.com/products/MTXL.php
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TransAM Depot The Judge GTO Coupe prototype, DUCATI ST4s DP, Buick Turbo T WE4 not stock.