You could have a mal functioning FPR I have heard the Holley's aren't that good. Pro-M has issues getting the fuel curve for the 24# correct, it usually runs rich down low and lean up top. I got rid of mine and got a C&L 76mm and it runs so much better. Some have issues some don't..so I think that is hit or miss.
Reset the computer and then check the TPS voltage and you plugs to make sure none of them are fouled. Guess you just need to start with the basic's, FP, timing plugs, cap and rotor, vac lines etc....
1-1/4 turns is excessive for setting the rockers, if they are pedestal mount it sounds like you need shorter push rods or more shims. If they are stud mount it usually takes no more then 3/4 of a turn.
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[b]12.16 @ 113.5, 1.78