[jmsnyder]

Thanks everyone for the advice! Since I hate threads with no conclusion, here's what happened;

I took the distributor apart down to the advance mechanism and cleaned everything. Just for the time being, I picked up some fresh store-brand ignition points at Advance Auto. Once I got those installed and dialed into spec, I set the timing and started from scratch once again tuning the carbs. After getting everything dialed in, it runs damn near perfectly.

For anyone interested in the configuration that worked for me, here it is:
1975 Porsche 911 2.7
Weber 40IDA Carburetors
Idle air correction screws out about 1/8 turn. (each tweaked slightly to even out barrels)
Mixture screws out 2 turns.
Stock CDI, Distributor, and coil.
No vacuum line to distributor.
.012 inch points gap resulting in 34 degree dwell angle.
Initial timing 5 degrees BTDC at 950 RPM and 30 degrees BTDC at 6,000 RPM

I do have to keep the throttle open slightly on initial cold start for 20 seconds or so for it to idle on its own. Once it warms up, it idles smooth, pulls hard, and I'm happy with it.