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I would confirm timing at idle and at about 3,000rpm. You want all the advance in by then. Target should be 14-18 degrees at idle and 36-38 total.
If your carb is a 780cfm then I suspect it is a vacuum secondary. Cobras are very light and unless the vacuum secondary spring has been changed, it is likely the secondarys are not opening. The standard spring is for a car that is probably 3500 pounds.
I found that by putting a zip tie around the secondary shaft, I could tell if it moved. Thus indicating the secondary opened. Play with it when the engine is off and open the secondaries, you should be able to see where to attach the zip tie. Alternatively, you can zip tie the secondary shut. You would notice significant power decrease if it is working.
Likely the lightest spring in the Holley pack is what you need.
John
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