you can fill the hole full of quick steel, re-drill and re-tap the tread, ive done that to one of my 4k blocks, still going strong after 5 years!
cheers!
If the engine wont idle under 2k, You may have a vacuum leak too. Advancing the timing may depend on what octane fuel you may have available to you, id bump it up to around 12 deg and see how you go,
cheers!
being a regrind cam, google "how to dial a cam in", you could either do it yourself by purchaseing a dial (ebay special), or take it to an engine reconditioners. Hope that helps.
^^^^^^^^^^Spot on, had the exact problem not to long ago, O rings in the master went, caused the pedal to go rock solid, wouldn't release, at it was only 18 months old.