I don't think it's an ignition module, that would have shown up in the ignition spark test... if the spark is strong enough to arc across a half-inch in open air, it can arc the 0.060" spark plug inside the cylinder and provide enough spark to ignite fuel.
The carburetor on my car is an electric choke carb, but other than that, it's completely free of computers. Fuel filter is also brand new, as I rebuilt the carburetor, and changed the filter in it just recently. Everything in the carb as far as I know, is working fine. The idle mixture screws are adjusted, the choke is adjusted, and idle is adjusted... I put my hand over the top of the carburetor and it started to sputter and die out so I don't think there are any (major) vacuum leaks.
I could check the timing tomorrow, couldn't hurt. The engine is rebuilt and has less than 5,000 miles on it though... I wasn't really surprised when I didn't find anything off with the compression tests, though I guess it couldn't hurt to try again with the equipment I have here at home (we used three different dials at school, and two of them didn't work properly... who's to say the third one wasn't broken too?)
I suppose that it is possible that the engine is not misfiring at all, and there is in fact nothing wrong with it. My grandmother owns an '83 Regal Limited with a nearly identical engine in it (it has some more emissions equipment on it than mine does) and it too has a tendency to idle a little rough. Both of them like to rock back and forth a bit.
*EDIT*
Now that you mention vacuum, it might be possible that the timing is off because the distributor is vacuum advance and rather than going to a vacuum switch, it goes directly to ported vacuum on the carburetor (It's a long story). An easy test there would be to take the vacuum hose off of the vacuum advance, and plug the hose up with my finger and see if it makes a difference.