I think Carl is chasing shadows (if you will excuse the pun) surely two of the problems that have been suggested are extremely easy to check and either confirm your suspicions, or rule out completely, if the ATD is slipping on the taper, then once set at say 34 degrees advance, kick the engine over a few times, and then check it again, if it has moved it would immediately be apparent, the same goes for cams slipping on camshafts.
BT-H magnetos do not throw off big fat blue sparks, but they certainly work, they are not just made for Vincents, but all the British Bikes that used Lucas type magnetos, if they did not work I am certain they would have been exposed as charlatans a long time ago, I have been very happy with my BT-Hs barely perceptible sparks for the past 18 years, only the condensers let me down once.
Vincents will run very well, even when in appalling mechanical condition, as I can testify as recently as last year at the Far Far North Rally, front big end disintegrated, thrown debris up into the front cylinder bore taking the piston and liner with it, and it was running very well indeed, two up.
I think the most likely outcome will be a fuel problem, but I think I would have given up long ago, and sought the help of a second pair of eyes and hands.
And in reply to Hugo, I agree with his comments, but having said that, I have lapped, but only with the finest grade paste, and just until you can see that you have full contact of the taper with a fine grey finish, we are not talking lapping in heads and barrels here, or valves.