I was going to suggest to follow the Eaglepedia instructions and set the timing and the idle, but you've a 21xx Motorcraft under there.
It looks like you're missing your vacuum advance line, and if so I would bet your timing has been set way to high in an attempt to compensate.
Edit: Also, your fuel filter bypass outlet should be at the top, and with your vent line plugged you'll get at least pressure buildup in your tank.
Your heater valve is missing, and if the line isn't plugged it's a vacuum leak when your heat is turned off.