Learn how to read your plugs. You'll be able to tell if the timing is correct by where the heat line is on the ground strap and center electrode.
I totally agree with Big Al. 50* sounds like either the timing mark is off or the compression isn't all that high and it's running pig fat.:yes:
I agree, read the spark plugs. An old fuel trick is to lightly coat the threads with anti seize, make a pass. click the engine off and pull a plug. See how much of the anti-sieze is burned off the threads. Should be about 3 or 4. If it has burned more, you are lean, less u r fat. Another idea would be to install an egt. 1050-1100* is about right(mac temp on a pass). 1400* u r melting the pistons.
Also about the plugs, if u r too lean (too much timing) the electrode will burn some. and if u look at the plug real close (magniflying glass) u might see aluminum transferring from the pistons to the spark plugs. That's a great clue u r too lean. lol
one more item...if the camshaft is degreed in late (retarted).....the engine will take more timing. Ideally with your combo I would think 42* max. just fyi..I owned,tuned an alky injected dragster with Nos a few years ago. Best et 7.35. (always on a mild tune up-didn't want to pop anything, and was plenty quick)