12 deg of timing should be the last mark on the balancer. Is there a need to run the idle speed so fast? On shut down you are more likely to siphon fuel out of the carby causing a run-on condition.
Thats why anti-dieseling solenoids are for, in the 70's everyone was afraid of high NOx emissions. They reduced the ignition timing but this screwed idle speed up, turning the idle speed screws up caused run-on.
Check your plugs too, visually and for heat range. They will show peppering on the porcelin if you are pinging.
You need to map out your timing. Run the engine at idle, 1500, 2000, 2500, 3000, and 4000rpm. Note what the timing is at those points. Also find out how much vac advance you have, just suck on the vac hose and read the added advance on the balancer. You will probably have to mark up the balancer to map the curve up.