I put on my new-to-me Edelbrock Performer 500 CFM and the truck has been running... ok. It loses speed on large hills in 4th (4spd; normal?) and on hard acceleration it's knocking/pinging (can't tell). I'm running regular gas, dad said he had hardened valves put in on the one of the rebuilds.

So, do I need to adjust time up/down, re-jet or use super?

Thanks gang.

 

First of all welcome.

Loosing speed on hills is normal to an extent. If you can keep up by feeding in the throttle there is a problom.
The knocking and pinging aon hard acceleration may be solved by using premium. If not drop your initial timing a bit

 

The 500 cfm Edelbrock is a little large for your 292 and will run a bit lean. You may need metering rods with a smaller diameter power step. I think the 500 cfm AFB comes with a .065" X .052" rod, so a .065" X .047" rod would be about a 10% change. You might also try stiffer springs under the metering rod pistons so that they begin pulling up out of the jets with less throttle opening.