Double check that each ignition lead is actually firing. If you can use a clamp over ht lead induction type timing light and clip over each ht lead to check that each spark plug is firing.
I am assuming that the firing order is definately correct.
Were the injectors from the new engine? If you have a leaking/ dribbling injector it can cause a slight misfire and cause excessive CO and HC even if you lean the CO back.
Double check you haven't got a vac leak somewhere.
I found best that the distributor solenid is still used and the timing is set to between 13 btdc.
The vac connections on the distributor solenoid are handed and should be the right way around ie you have vac going to the distributor advance unit when the throttle is OFF the throttle switch.
Good luck


