Howie, I did originally pick up a mismatched coil and ignitor. I have an Ignitor, not the Ignitor II, and I bought a Flame Thrower II. Luckily for me (and for a change) I read the instructions before replacing the original ones and read the warning. I have a 1.5 ohm coil, the Flame Thrower II is only .6 of an ohm.
I think it is rich, the guy that got it to start didn't do anything to the carb, just started it, didn't even check the vacuum. I have the secondary blade open a fraction, just so you can see the bottom of the transfer slot. This gave some relief from having to open the primary too much with the idle screw, which was pulling fuel from the the transfer slot - when we first got it to run I turned the idle mixture screws all the way in on all four and it still ran at idle.
I'll check the vacuum at idle and then make a decision about the power valve and jetting, and go from there. May change the idle bleed screws as well, but one thing at a time.
I have a good ground from the back of the intake to the fire wall, and I have a big ground strap from the side of the block. I checked the continuity of the intake to the negative on the battery and got zero ohms, so I'm pretty confident with that. I have not specifically checked the heads to ground, but I'll do that as well.