Dave,
The attached way below is a GT/CS/HCS link full of good advice. Your car has an overheat or hot start problem when it sits for around 5 to 10 minutes after shutting it off. The engine builds up a lot of heat after shutdown. Normally after I run in to get my six pack of beer..... The carb somewhat boils and introduces alot of gas down inside the intake manifold and causes a hot flooding condition. If you are disciplined and put your foot to the floor, AND DO NOT RELEASE IT UNTIL IT STARTS, you should be able to use short bursts of around 15 sceonds on the starter and it will start and spew black smoke everywhere for about 20 seconds. I do not think a phenolic spacer will provide much relief. I assume you still have an Autolite 2100 2 barrel carb? This is what I would do if it was my car.
1. Drop to a 180 thermostat for the summer. Verify it works with a pan on the stove and a candy thermometer. While you are at it verify the old thermostat as to when it opens. My bet is that this car never sees much winter operation and you can go from the 195 to a 180 no problem. If your radiator is suspect, then you can even drop to 160.
2. Verify that the vacuum advance works. Plug a rubber hose on the vacuum advance with the engine not running and the distributor cap off. Suck on it while you watch the advancer plate move the pertronix around the center of the distro. Very easy to see. While holding a suction (I am very good at this for car work) move you tongue over and plug the line with some suction on it. The advance plate should hold until you remove you tongue and then it will "snap" back. If it holds it is probably fine. If it does not hold the local NAPA has one.
3. Now move the timing marks up on the left side behd the power steering pump with a 15/16 socket and six inch extension on the vibration damper bolt. Clean the marks up real good and get some of your children's sidewalk chalk and rub all over the marks everywhere. Gently take you finger and drag the bulk of the chalk off and bingo, you can see them
4. Get the car up to warm, not hot, with the choke completely released and at a normal slow idle. Unplug the vacuum advance and check you initial timing with a timing light. 6 BTDC degrees is what you car should be set to. I assume it is not a California car with a Thermacter system? I find your car will run allot better at 10 degrees BTDC and even maybe 12. The more you can advance the better mileage, power, and LESS HEAT it will have. You need to ensure you do not "ping" (engine knock under acceleration pulling a mild hill). If you do not have ping get it out to 12 BTDC. You will need to set the curb idle screw back a bit as the engine will idle a bit faster. A quick slide by my house and I will set the idle mixture screws for you! Ok take it back to your guy!
If you take the above 4 steps and the vacuum advance is good, I bet you make a huge difference in your engine operating temp and your hard start when hot goes away!
Do read the link below. It chronicles an engine with your problem.
Rob
http://californiaspecial.com/forums/showthread.php?t=7426&highlight=overheat