OK, on the VAM;
-I suggest that you pop the plastic cover off of the meter. It is held in place by a thin bead of silicone. If you pry it gently, a little at a time, it will come off in one piece. See attached picture for more details on the VAM.
-Next, with the cap removed, you'll want to warm the engine up to operating temp, once warmed, with the engine running, adjust the idle speed up to 1500-1800 RPM, using the idle stop screw on the side of the throttle body.
-Next, take a look at the VAM. Inside of it you will see a small circuit board, a wiper arm and a plastic gear.
-With the engine running, gently push the wiper arm on the VAM, increasing and decreasing it's position slightly. when you do this, it will either lean or enrich the fuel mixture and you will notice a drop in RPM. If it does not affect RPM, it is highly likely that you have an issue with the VAM. If does affect RPM and mixture, note the position which enables the highest RPM. By now, you probably figured out by looking at it, that if you rotate the gear one direction or the other, you can change the fuel mixture, but right now we're interested in function.
10 degrees of initial spark is much lower than I recommend. It will give sluggish acceleration and poor throttle response & HP. My cars are set between 16-18 degrees.
Re-post after you try that and let us know what you found. If that doesn't shed some light, we'll move onto the some other things.
Nice looking car BTW.