Which "HEI"? If it is a Pro-Comp, take it out abnd throw it in the trash, go get a Pro-Form, stock GM, go back to points, anything else.
Initial timing is 10/12 deg/BTDC, yes? You did restrict the amount of degrees the vacuum advance gives, down to 8 crankshaft (pull pin travel set to .086, yes?), then connect it to full manifold vacuum, didn't you?
WHICH Edelbrock manifold? SOME of them, even if they have the correct carb base pad, need an Edelbrock 2732 plate to seal them to the carb. Use UNLIT propane around the base with the engine running, propane smell out the exhaust, engine cleans up, LEAK.
Also, send the Deadbroke carb back, Q-Jet works leaps and bounds better than an Edelbrock "Performer" AFB EVER WILL.
Demon = disaster. Not many people ever get the street Demons to work right, let alone close, as they don't have the tunability their "race" carbs have. The "techs" at BG really don't have a clue about most of the situations they misadvise as far as carb setup. BTW, Barney Grunt sues HOLLEY DOMINATOR carbs on his own Pro-Stock race car.