Did you say that your best mixture setting is all the way in??
If so, you've got something wrong with your internal carb adjustments/settings.
Yes, That's right. I've rebuilt the carb twice and I double and triple checked everything the second time. I blew out all the passages, soaked it, reassembled with a new rebuild kit and everything.
Like I said new distributor parts but never check the shaft for play though.
Put some (Xylene) 117 octane to stop the pinging ;).,,
The pinging is from it being too advanced and just general timing/dist problems. I know that high-oct would probably help but 8.5:1 shouldn't need anything but 87 from the pump