You're asking about sticking valves. An engine with "a" stuck valve will run on 3 cylinders, cranking will sound like cranking with a plug out, it will run but have a steady miss. If more than one, stuck, it might run on 2 cylinders, more than that it won't run at all.
You say it starts right up. Since it does start the timing is close enough to fine tune. Get it started and turn the mag back and forth until it sounds and starts good.
Slow timing will cause loss of power, backfiring out the carb on acceleration.
Fast timing will cause the engine to kick back when cranking, erratic idle, spark knock.
Generally, advancing the spark will speed up the idle, retarding will slow the idle, unless it's way off, and I don't think you're that far off.
Back to the fuel issue... Is there black smoke? If so it's too rich.
Fuel running out the carb throat? Float too high, trash in needle and seat, sunk float.
Is the choke linkage right? Choke fully open when pushed in.
Is the air cleaner clean? Take the hose off the carb and see if it runs better.
Set the idle screw about 1 1/2 to 2 turns off the seat.
Set the main screw about 2 to 3 turns off the seat.
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