for an olds 307 without a dwell meter i have found 2 and 3/4 turns out from bottomed on the m/c solenoid to be pretty ideal and puts your right at 30 to 32 degrees dwell on the 6 cylinder scale.tps should be checked with a multimeter with the black lead on the battery negative and postive probed into the dark blue wire.you will be looking for i want to say .41 volts and opens to 4 or 4.5 volts full throttle.this is adjusted by a tiny screw at the base of the accel plunger lever,if its not drilled out or the other person who rebuilt it put that tamper cap back in you'll need to get a small pointy awl and punch it through carefully then pry the cap out.then get a small piece of copper tubing or the like,tap it gently down onto the end of the screw which will form to its hex shape and turn it in to raise the voltage or out to lower it.you can do the same for the m/c solenoid to gain adjustment by using a piece of copper pipe pushed down onto the head of the adjustment screw which is basically a flat protrusion on the top of the adjustment screw.turn the idle needles out to about 5 and a half turns as a starting point and adjust idle via the idle screw tucked beside the throttle linkage to 1100 in park.the flooding issue id suspect too high a float setting i think its supposed to be 7/16ths from the top of the casting measured at the toe of the float unless you did something like i did quite awhile ago,was replacing fuel line and went to a smaller size on the line from the pump to the carb inlet causing the pressure to raise
