I found the timing mark and it is set at 5 BDC as the manual states for N. America. The carb is a new rebuild manual choke variety. The dwell angle reads 52 degrees. I have no standard air cleaner. The only hose that plugged into the old one was the vent line from the gas tank and it doesn't draw a suction or anything. The PCV works OK, just got through checking it. I was screwing around with the old suction lines (only the EGR and distributor have them) and they need replacement so that should help. It ran better after pushing them on tighter. I replaced the coil and in the process switched the wrong wires to the - and + tension leads. Got those back and it has acceleration again .
There have been no engine tear downs except replacement of head gaskets throughout its life. It is tight and leaks no oil or burns any oil. A very clean exhaust. I just got through with a test drive and it seems strong, just not quite smooth on idle. I'll try to include a photo on the avatar when I get around to getting one.
I certainly appreciate all the help. This old thing will be up and running good again soon I'm sure. Many thanks to all and I'll keep you apprised of the situation.

make sure that the vacuum advance hose is attached to the fitting at the center body of the carb. this will give you ported vacuum and cause the advance to only be there when the rpm's are above idle, if it is hooked up to manifold vacuum, it will have advance all of the time and it will affect your performance. the way to tell is when it is idleing, take the hose off at the distributor and put your finger on the end of it, if you can feel it sucking, it's hooked up wrong.
when you set the timing, disconect and plug the vacuum hose at the distributor, that way you set it with only initial advance. and like I suggested before, set the timing at 10 degrees, it will run better still and shouldn't cause it to ping.

so you know, the 71 1200 did not have EGR, if you are refering to that pipe at the left rear of the block that is about an inch round and a hose going to the intake manifold, it is the PCV system.
the PCV system and a primitive vapor recovery system are all the emission controlls that they used on 71 to 73 USA models.