Does the car have "California" or "Federal" emission equipment. If the hood is from the original car, a sticker on the underside should give the idle specs.

Compression is 225psi across the four cylinders

How did you measure this? The spec for a new 4A-FE engine is 191 psi.

I tried turning the idle air bleed screw all the way down and it barely goes to 1200rpm.

One thought is to see this current thread for info about the woes of the idle air control valve:
http://www.toyotanation.com/forum/1...tion-1988-1992/464393-92-60-000-miles-shakes-idle-tried-everything-give-up.html

Is it TPS adjustment then dashpot then throttle cable then bleed screw?

The service manual only gives directions for TPS adjustment and throttle cable adjustment in the instructions for replacing parts that involve them. This implies you should have those things adjusted before you begin the directions for adjusting idle speed.

The TPS adjustment in the service manual looks somewhat complicated. Hopefully someone can post the relevant pages. (I've never tried this adjustment myself.)

 

Most probable cause is the IAC sticking keeping idle raised. In order to adjust idle speed two terminals in diagnostic connector need to be jumpered ( on underhood emmision label). Check all vac lines for leaks and check rubber grommets where fuel injectors enter intake as they are known to dry out and leak. You shouldn't have to mess with TPS unless you are replacing it as it likely isn't the cause.

 

(Factory manuals are cheap on ebay manuals because these cars rust and are junked, but manuals often live in bookcases.)

My posts in another other recent thread here: "If the idle screw is all the way down, then there is too much air going through somewhere else at idle. Look for bad/disconected hoses. Remember, idle is not set with the throttle plate stop screw (as it was for most of a century in most cars.) That screw is screwed in just enough that the butterfly doesn't jam in the throttle body."

and "Just because you didn't touch the butterfly stop screw doesn't mean it is where it should be...maybe someone else adjusted it incorrectly once, or it was never right, or the screw tip dug in a little and the butterfly closed against the TB bore. (If latter case, then car jumps when you are in first gear (manual trans) at idle, moving and first give it gas.)

I would make sure there is a bit of slack in the throttle cable. Back off the butterfly stop screw. Then screw it in until it JUST starts to move the butterfly....basically, you want the butterfly closed with the load on the screw, not the edges of the butterfly."


(adding: I'd like to see a little slack in the throttle cable, so that temperature change or vibration or vehicle stance or something doesn't tighten cable and open throttle.)

 

update: The throttle body needs to be completely closed when the car is off and the adjustment screw that uses a 2.5mm allen and is locked down with a 8mm nut needs to allow the throttle plate to rest against it.

Jumped the diag connector and adjusted the idle screw out about 1.5 turns to 880 rpm. I like higher idle due to the feeling of running better.

The dash pot is for deceleration.

 

autozone website has complete adjustment info, just put in year and model, the instructions are pretty damned good there and it's free..