Seems a little high, but cold starts are a balance between choke mixture and speed. Someone who's running a teapot needs to jump in, it's been too many years since I ran one to trust my memory.

miker
55 bird, 32 cabrio F code
Kent, WA
Tucson, AZ

Is it normal for the car to run high rpm when first started? (about 12.5 )  . Will it kick down when it warms up for awhile?

The factory manual should give preliminary adjustments for both the idle mixture screws, choke, idle and fast idle. Use that as a start, and don't be surprised if they take some fiddling. Might also need to reset the choke between summer and winter. The original settings didn't anticipate ethanol blend fuel.

miker
55 bird, 32 cabrio F code
Kent, WA
Tucson, AZ

Get the engine up to normal operating temperature


54 Victoria 312;  48 Ford Conv 302, 56 Bird 312
Forever Ford
Midland Park, NJ

I just go my Carb rebuilt and it's back on the car. What is the best way to go about adjusting it? Cold start adj. or hot adj.?