I don’t think your far away…I have found that the Fiat twin cam is reasonably sensitive to exhaust extraction. I assume you have standard cast 4 – 2 manifold? I have found the Lancia Beta cast manifold has larger ports and flows better and revs out better and fits the north to south configuration of the Spider, check that you have the right exhaust manifold…it does make a difference. Bear in mind that spitting out the exhaust is indicative of a rich mixture and spitting out of the inlet tract is on the week side. I would also try a static advance of 12 deg: Maybe increase the size of your air corrector jet.