Just to update this thread...
Playing with the timing and idle mixture did not seem to eliminate the stumble when the engine reached operating temperature. The plugs continue to have soot, now heavy soot, so way too rich. Idling too long isn't helping either, and found I'm going through a lot fuel during this adventure.
Bought a new timing light from innova that has a tach which helps. Now I can read the timing marks properly. Time to retire the 35 year old light.
Tried a new flame thrower 2 coil, that has a primary impedance of 0.6 ohms and no ballast resistor. Stumble gone! However, plugs still rich. I turned my attention to the carb.
Picked up a calibration kit and changed the metering springs to match my 15" of vacuum, along with new jets and metering rods to lean it out some, according to edelbrock's chart. Gave the carb a good cleaning and I noticed that the electric choke was set too rich. That is likely contributing to the rich condition, although the choke plate always opens up fully. Set the choke to much leaner so that it opens sooner, installed it and fired up. Plugs still looked a bit rich afterwards, but better.
I set up a fuel pressure gauge and noticed that the carter mechanical pump is putting out too much pressure. About 8lbs at idle and 6lbs at 2000 rpm. So I picked up a regulator and set it for 5.5 as per edelbrock's manual. Seems much better. I took it out for a cruise and it is running way better. The car now has loads of power, laying down rubber like it never could before. No stumble, but some pinging at higher rpm. I plan to install the original distributor with the recurved mechanical advance and orange box to see how it performs. I think I will have to put the BR back into the circuit as the new coil will probably burn out the ecu.
Long term plan is to either pick up the FBO kit or replace the reluctor with the pertronics 2 module. I've read mixed reviews about pertronics, so I'm not sure yet. I also plan to rebuild the holley 750DP and try it out, hopefully before the snow flies!
As far as underhood heat goes, it is hovering above freezing outside in the mornings now and seldom gets above 60* during the day, so I'll get a shroud over the winter and see how it performs next summer.