There were several versions of the KB series carbs that were used through the years on the Model 110. The way you adjust the low speed jet on it has been pretty well outlined on various threads on here, it is simple but a little tedious. As far as timing, there is really only one correct setting and it should be stamped or be on a sticker on the top of the flywheel, when you put the new condensers in, did you check the point gap?
With that said, I am still leaning to a fuel problem or an air leak at the carb. I would suspect that maybe the carb to block gasket it damaged or the carb is not properly tightened down, so I would check that. One other thing to take a look at, is the screen on the fuel pick up in the tank, it might be partially blocked also, I have had that problem in the past.
Did you download the .pdf files from Max on the KB series carb and take a look through it? If not, I have copies of them in .pdf format I could email to you, if you want them, let me know in a private message with your email address and I can send them to you.