1995 Mitsubishi Mighty Max Adjusting idle RPM and Timing

I have a 1995 2.4 ltr. Mitsubishi might max pickup truck. I am dealing with passing smog now and my rpm is way to high to pass tho the timing is on 5 degrees BTDC. I have been playing with adjusting the throttle cable to run engine lower then re-adjusting distributor to BTDC. When i turn rpm down by adjusting the throttle cable and timing lighting the engine to 5 degrees I lose all my acceleration power. When the rpm is higher and timing is advanced I get full acceleration. Im not sure if Im adjusting the engine idle RPM's correctly (which is 750 rpm) in partner with timing marks (5 degrees BTDC) to line up with each other. Recently had the engine rebuilt, and had neglected routine tune ups besides oil changes. Since dealing with this smog I have replaced a bad 02 sensor, egr, replaced sparks,distrubutor, cables, rotor. The last thing is adjusting timing and has been a nightmare for me