We can try a few thing and narrow it down. I don't want to be influenced by thinking it's carb. It can be. I am for now focusing on your comment about the choke needs to be on somewhat. Of course that means running lean. But not necessarily the carb.
I've got a huge list but let's start with some easy one's:
1. Advise what timing is now.
2. Carefully examine all vacuum hoses. Touch them, move them, look for cracks or loose. Check any vacuum plugs in place. Rubber or brass.
3. Also be sure the heat riser flapper is loose and will flap by hand.
4. Run the motor with the gas cap off.
5. Two years old for distributor parts now-a-days is too old, weak/bad coil or
condenser can cause what you have. Points get eaten away or mis aligned. Always tweak new points , as necessary, to be sure the pads mate well. It's all Chinese no matter what the brand is.
If you want to go this slow route method, and I hope you do, report any findings from above so we can go to the next phase.