10 " isn't alot of vacumn. You may not be getting a signal at the power valve. Have you tried advancing the timing?? Where is the intial timing set?? If you try advancing the timing do it with the vacumn gauge hooked up and see if it increases with the timing increase.
I tend to agree with you on not drilling a new carb. I'd have a problem with that too. What size jets are you running??
A little rich is one thing, but black plugs, etc. Does it load up at idle?? Also, do it clean out on the road, or is it still fat. If it is fat it will act lazy and sprew black smoke on accel.
If you can find a vacant road. Have clean new plugs, run it through the gears and at the top of third or so throw it in neutral and kill the ignition. Pull over and check the plugs then. I know it is a little hard to do....but it will tell you how rich/lean you are at max power. You can get in the ballpark with your jetting that way.
Does car have power brakes?? If so do they work, how do they feel??
Talk to you later.
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Dave
1968 Cougar
2004 Thunderbird
2007 F150 Harley-Davidson, SuperCrew
1986 LTD
1997 Ranger
1992 Honda Civic
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