I spend the last few days cleaning the electrical connections and timing the ignition again as it was out of spec. The car runs way better but the AFR gauge still shows 11,5 at idle. I'd like to bring that down (or up depending how you look at it) to 14,7 as the car stinks of gas. The previous owner mentioned that that was the reason it didn't pass inspection (auction company didn't mention that). I tried messing with the idle air mixture screw but that didn't help. When turning clockwise a bunch the car did start to run richer but when turning anti clockwise it didn't get past 11,5 AFR.
I did notice the ignition coil is a 1,5 ohm unit with a total resistance of 2 ohm with the external resistor. I believe it needs to be closer to 1 ohm total so I'll probably replace the coil with a 0,5 ohm one.