Assuming the carby is about right if you set up the timing for about 12 deg initial and 34 deg total all in by 3500 rpm that should work on just about anything. Most older engines have very little initial timing with very quick initial advance curves topping out at about 25ish degrees total.
Have a look at the plugs, if the ceramic is perfectly clean or peppered you're probably lean. If the ground strap has a colour change at the "knee" or towards the end then its not enough fuel.