1979 Chevy El Camino Lack of power and speed

1979 CHEVROLET EL CAMINO
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AUTOCARS
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Engine Performance problem
1979 Chevy El Camino V8 Two Wheel Drive Automatic 100+ miles

The engine is aparently a 5.7 no points; it is module. I installed new ignition module, solnoid, rotor, cap, plug wires and spark plugs. Timing sounds better but Still lacks power and tops out at 35 mph. Compression is: 1@160, 3@170, 5@150, 7@165
2@160, 4@152, 6@150, 8@140
I tried to adjust feul air mixture on the two barrel carburator, but I probably made it worse. Vacuum is modified. The oil on the old spark plugs was baked. What's next?
Dec 9, 2008 at 1:45 PM
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DOCFIXIT
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Need to remove oil or replace plugs frequently. Cylinder heads need valve guides ans stem seals.
Dec 9, 2008 at 3:56 PM