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As to running the car at high altitude, I get more power out of my 59A-B engine at my altitude in Utah, that's almost as high as yours, by advancing the timing as far as I can as well as the vacuum advance on the distributor. Never get a ping until I get below 3,000 feet then have to retard the vacuum advance a little.
You can also check the jets in your carburetor. If you're running a Holley 94 (Ford 59) carburetor and the car has been near sea level with the stock 50-51 jets you could change them to 49's at your altitude and save a little gas.