OK, so are you suggesting that IF the engine increases in RPM with your hand held of the choke plate, then the carb is set too LEAN?
Yes, this pretty much holds up to that fact, everything is relevant to what is actually wrong in the first place. I learned basics by means of driving old farm tractors, old pickup trucks and the likes BEFORE things became automated so I guess it could be said that "I get it" easier than others might.
You need to kinda regulate the amount of "choke" you do with your hand, again it is best on a warmed up engine. (You always get the carb "correct" as best possible on a WARM engine before you attempt any actual choke adjustments, choke adjustments are last) See if things improve or at least change by adding fuel, this is done by using the method of "choking", literally by using your hand over the carburetor and watching for a smoothing out of the idle or maybe even a noticeable increase of idle speed. If you notice ANY improvement, this proves it is running lean...THEN by knowing indeed it is actually LEAN can you start eliminating any would-be causes.
I have right now an old Dodge that has a similar problem, it runs almost exactly like what you are describing you have. I KNOW beyond even a shadow of a doubt, it is running lean at idle... and just like your 390, it runs 100% perfect at any speeds away from idle...I just haven't yet run the very tests you need to do to solve the "why" of my problem. My guess
for MY problem is that the EGR valve is leaking...Early 390's (in 1967) do not have an EGR valve so you have at least one less possible cause than I have on my old Dodge.
Contrarily, if it is running RICH, the choking method will result in NO CHANGE or a worsening of your idle condition. RICH conditions usually accompany a bit of black exhaust (smoke) or chalking buildup in the tailpipe and/or the smell of raw gas in the exhaust.