Been awhile but would like to revisit this if anyone is game.
Have tried several things on and off through late summer and now fall.
I find this quote from TexasMark interesting "Timing at idle is just a few degrees and at WOT on that engine is 18 to 22 BTDC depending on year model per my manual. Combustion comes from fuel and as rpms increase timing is increased to continue the torque curve (opinion). Since the engine is spinning faster the spark comes earlier to entice the cylinders to fire earlier hence increase rpms. Yea verily you continue to bring in more fuel as this is a venturi fuel system and upping the rpms ups the air flow through the carb and ups the fuel sucked out of the bowl, but the venturi is just so big and once the butterflies are wide open more air is harder to come by. They used to call this linkage system "back drag" and was an economy measure for cruising."
I find this interesting because it is exactly opposite of how my son's system is. With his the timing maxs out fairly quickly. Probably before throttle plates are 3/4 open. And anything extra comes from opening butterflies further.
Here is stuff we tried recently.
Replaced the plug wires because they had been poked and probed so many times I got shocked when hooking up a timing light.
The motor still runs up to around 4900 but no longer falls on its face when opening throttle all the way. Basically at 3/4 throttle when you open it all the way up there is an audible change in intake volume but nothing else happens. With cowling off it will run about 100 or so rpm higher but still doesn't run as it should.
Unhooked fuel pump and used a gravity feed container to supply fuel to carbs. Motor ran exactly the same so that pretty much eliminates fuel pump as problem. But we did verify that motor has excess fuel consumption, which we have suspected all along. It took exactly 6 minutes to run 1 gallon of fuel, which would equate to 10 gals per hr at WOT. Seems high based on suggested 10% of horsepower that everyone throws around.
Next I finally got some of the gapped plugs suggested earlier. Although I must admit I am not sure how to read plugs, what I found seems odd. After several minutes of WOT operation and immediate shutdown by turning off key, plug #1 looks brand new, as if not even being used. Plugs #2 and #3 on the insulator cones, one side of cone was milk chocolate and the other side of cone was like dark chocolate close to black. Seems 2 and 3 running pretty rich but not sure why 1 looks clean. It has spark and seems to be getting fuel since it has not melted down yet and still has comparable compression as 2 and 3. Since 1 seems to be not being used I want to try to run at WOT while spraying starting fluid or something into top carb to see if it makes any difference. Maybe 1 is getting just enough fuel to not melt down but not enough to make power. Would this be possible? Also thinking about rejetting since 2 and 3 seem to be really rich.
Any more suggestions from someone more knowledgeable than I? Thanks in advance.