1/3 of the key Adam. I've been a tad over that too but I wouldnt say it did much extra.
Do a squish test to eliminate piston slap Adam. If you have removed the head gasket your squish may be to tight.
Carb settings is 1 turn out from the factory, if my memory is correct all my 242/246's seems to end up around H 3/4 setting.
2 shoe vs 3 shoe, most of the time I get a 2 shoe 133/234/238/42/242, it seems it has had a spring failure in its time, hence why I use a 3 shoe clutch on a runner. I wouldnt stress with the clutch yet though.
Spikes or not, in US & Germany they where normal, in Scandinavia they was rare, if I owned a farm with more spruces I would maybe consider a bumper more then spikes on a 42/242.