Haynes and Chilton manuals aren't in the same league as the Ford documents like the EVTM and the clips from Ford's Master Parts Catalog like I have on my web site.
On the ignition, since you don't have to pass emissions testing you might consider a DS-II conversion. We don't, yet, have a how-to on these conversions on this forum, but FTE does. Go here
and scroll down a bit to the Ignition and EEC (Electronic Engine Control) section.
Basically the situation is that you have a computer that controls the ignition timing as well as the carb's air/fuel ratio. An EEC system. It can't be happy since it isn't controlling the carb, so probably has the ignition timing locked, meaning there's no advance and that kills the power. But, you can change to a DuraSpark-II system, which Ford used for many years on non-computer controlled vehicles. It takes a different wiring harness in the engine bay, a different distributor, coil, and ignition module, but is pretty well plug & play.
The only real option you have to get the truck running well is to make the computer happy, and that requires giving it all the inputs and outputs it was supposed to have. We already know that the carb isn't connected, but what else isn't?
Gary, AKA "Gary fellow": Profile
Dad's: '81 F150 Ranger XLT 4x4: Down for restomod: Full-roller "stroked 351M" w/Trick Flow heads & intake, EEC-V SEFI/E4OD/3.50 gears w/Kevlar clutches
Blue: 2015 F150 Platinum 4x4 SuperCrew wearing Blue Jeans & sporting a 3.5L EB & Max Tow
Big Blue: 1985 F250HD 4x4: 460/ZF5/3.55's, D60 w/Ox locker in front & 10.25 Spicer/Trutrac in back, & EEC-V MAF/SEFI