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1) pull your spout connector and check / set base ignition timing to 10 degrees BTDC.
2) with base timing set and spout connector removed, disconnect the IAC and set idle speed to 500 rpm by idle stop screw.
3) reconnect IAC, spout connector and check idle rpm.
I have a feeling that your idle stop screw is cranked down just a little too far still. You can loosen it all the way out until the screw comes out and then try adjusting from there as well, but the only thing you have to take into consideration is if you leave it "too loose", you'll have a sticky gas pedal.
I don't recall there being any holes in the throttle body butterfly plate on mine. If you had a vacuum leak, though, or at least on mine, my idle speed lowered and the engine shook. Could also be a faulty IAC.
The SPOUT connector (so marked) comes off the wiring harness from the distributor / TFI module and is located on the passenger's side of the upper intake, maybe 6" or so from the distributor. It's a two-wire connector.
The IAC tends to fail or get really dirty. You can try cleaning it and the upper intake / throttle body and see if that helps. If not, then it's time to replace it.
They're different part numbers, I just looked it up. Not sure if the wiring connectors are the same or if they'll interchange, but it could work temporarily, I guess.
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