What should I have done/do myself?
What do you think?
Mr. Bill Gregory wrote an excellent essay on the subject for the benefit of us all.
I believe it is available on the Technical section of this website. Read it, it may help you understand this quirky part of the pre-'84 cars.
One other thing that comes to mind, is the distributor advance mechanisim. If the bob-weights are frozen up or sticky in any way, you may experience an irregular idle. (And no one likes to be "irregular" do we?)
For your condition, you are experiencing the effects of the deceleration valve. That *might* be what is making your car, when hot, idle high. Typically one loosens the locknut on this device and turns the threaded post into the body of the valve. Then, set you idle using the large, quarter-sized idle screw on the throttle body.
Study all the drawings and whatnot via BillG's writeup, check Pelican parts diagrams, and get a feel for your car. Let us know what happens.
Jw

