A couple of suggestions:
The surging & popping at WOT 'sounds' like a lean condition.
Seems like you are getting timing advance, 24 deg. all in sounds o.k., so I would just concentrate on the fuel system.
Have you checked the spark plug coloring yet? It's a good indicator of, among other things, if you are running lean or rich.
The best readings are obtained from new plugs . Change them out, run it through the entire rpm range, & see what you get initially. It'll help with your diagnosis.
Make sure the plug wires are good. Older wires that have dried out or cracked insulation can potentially fail under higher rpm with a load.
Have you pulled the secondary bowl to see if there is any junk in there? Also check the secondary throttle blades to see if they are opening all the way, & that all your linkage is moving freely.
The power valve is already doing it's job at WOT since you are probably pulling 1" or less of vacuum at that point. You should be good with a 6.5 or 4.5……..
At any rate, it wouldn't hurt to pull the carb & do a rebuild. You could do that yourself. Holley rebuild kits are pretty inexpensive……