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mkcobra, The Edelbrock carb is pretty foolproof but there could be a problem. I think I would pull the top off and check for dirt or debris in the bowl. Also, on the top of the carb on each side of the choke plate there is a small cover with a screw. These are the metering rods to the main jets. You can remove the covers and the rod with the spring to see if there is any damage or binding of the rods. Check the fuel filter, and the pump. You could also check for any vacumn leaks which would cause a problem like this. Timing should be checked for full adavnce at 3500 rpm. between 32 and 34 degrees will work well.
The Edelbrock has mechanical secondaries with a vacumn plate on top of the butterflies. If you open the throttle you should be able to open the plate and look at the secondaries to make sure they are working. There is no adjustment. The vacumn plate should operate freely, make sure it's not binding.
Fuel mixture should stay around 12.5 for this type of engine. You're not too far off. Optimum for a stock engine is generally at 14 to 1.
One thing to remember on the Classic is the hp loss through the sidepipes. It's easy to lose 40 or 50 horsepower there. The drive train should have a loss of around 15%. Even with those losses you should still be around the 300hp mark at the wheels. You can have your mechanic call me if needed.
Don
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