Hi Billington,
I see - here and on the BSA forum - that your starting/running/gutlessness/overheating problems with this bike have been going on for some years. You don't deserve that!
A 1932 500 sv BSA should be completely reliable, pull like a train, and not overheat until it gets to 38C outside. It should cruise comfortably at 40 mph. However to make it like that - assuming all the mechanicals are good - it has to be properly tuned and maintained. No amount of random fiddling with the controls will make the bike run nicely if the valve timing/tappet clearances/ignition timing/points gap/carburettor settings are incorrect.
My number one suggestion would be to get a knowledgeable person to help you. If you bring it to my place (in Adelaide Australia!) I'll help you tune it, but is there anyone closer? This is really hard because the are lots of "experts" out there, but you need to find someone who understands old motorcycles and can do the work. Tricky these days.
Failing that, you CAN do it yourself. But you have to be systematic, and work through the issues one at a time.
Maybe start by being CERTAIN that the magneto points gap is set to about 0.012" fully open, and that the points open about 35 degrees before TDC (piston say 3/8" or 10 mm before TDC on a longstroke bike like the BSA) when the lever is fully advanced (tight wire). When you're certain of this, retard the lever fully and you will hopefully find that the points have just opened (maybe the promised 3 thou) at TDC.
Once completely confident that the ignition timing is right, you can run the bike at full advance - no fiddling - and move onto the next things... (in order - loosen the tappets to say 10 thou so there is no chance of them closing up while running, check that the valves are rocking - exhaust closing and inlet opening - at TDC on the non-firing stroke, clean the carb, check the main jet size, check the needle, set the idle mixture screw to a best guess - all the way in then 1 1/2 turns out from memory - fit a new Champion D16 plug, fresh fuel in the tank...)
Good luck,
Leon