Flew,
That is not much vacuum, even for a cam like that. How do you have your valves set, is it possible they are too tight? Is that 16 degrees of timing with the advance unplugged and the vacuum port on the cab closed off?
I am concerned about the 16 degrees of timing. How does it run with that much timing? Reason I ask is many years ago when I was a younger man I rebuilt an engine for a man and it ran like crap. I wound up having to set the timing on about 32 degrees at an idle. I thought "This can't be". Turns out the harmonic balancer had either slipped or was the wrong one for the engine. The timing marks were in the wrong place. I never considered a problem like that, but I changed the balancer and it indicated the proper timing.
I told you before that Chevy liked a lot of timing for performance use, but 16 degrees is a lot. I have felt comfortable with as much as 12 BTD, but more than that????? Have you checked for vacuum leaks around the carb base and the intake manifold? With a can of Gumout spray Carburetor, spray it around the edges of the intake and around the carb and base plate. If you get any kind of a change, you have a vacuum leak.
The way I see it there can be several things that can be wrong.
Valves too tight.
Harmonic balancer possibly slipped indicating the wrong advance.
Vacuum leak around the base of carb or around the intake.
Timing marks aligned on the timing chain incorrectly.
Did you put a high performance timing chain in it? Most of the after-market timing chains has 3 sets of timing marks. Is it possible that you chose the wrong ones? I did a dumb trick like that once a long time ago myself, being unfamiliar with the 3 sets of marks. I learned some things the hard way.