After going over a bump the front end of my 74 seems to bounce quite a bit, almost to the point of feeling out of control. The idler arm seems tight, is this normal? I am wondering if the shocks are too stiff? any ideas?

If it is bouncing freely, more likely the shocks are worn out....

Yup...what Joel said. More than one bounce when pushing down on it means bad shocks. 

I can only push it down an inch or so, when I let go it comes back up, goes down for a 1/4 to 1/2 inch, then comes back up and stops. When it bounces on a bump in the road, it is more like a chatter and it seems to pull left or right.       

That description sounds more like a loose suspension component to me. A ball joint, or control arm bushing could cause that, but not a bounce....you may be dealing with more than one issue here....
I have 25 year old(at least) shocks on the '74, and if I push it down and release it, it does not bounce at all...it comes back up and stays. No bouncing on the road, either. But....my car doesn't have many miles on it, so the shocks are prolly still in good shape, even tho they are old.

I need help on front suspension. I saved my 1979 vette from the salvage yard. It needs new front suspension should I go with stock or upgrade?

To original post...sounds like shocks.

Thanks. I plan on driving it and may take it down the drag strip to see how it does.

When I got my '74, it badly needed all new front bushings and ball joints.  The steering had slack in it between the first movement of the steering wheel and movement of the front tires.  We also found a front spring broken.  These things happen after 40 years.  I think the control arm bushings have a tendency to disintegrate over time, assuming they haven't already been replaced.

Ray

Well it needs shocks for sure. As previously stated, there should be no up and down when you push it down and let go. Just up. I'd do that first and drive it. See how it feels. Shocks, even like nice Bilsteins (my fave for just about everything) won't set you back a whole lot. $85 each or so. As far as worn out front end components, there are a variety of simple tests to determine which parts are shot. If your not comfortable trying your hand at this, exhaust shops like Meineke will examine it for free...hoping you will have them do the work. You need 2 people and a floor jack at home or a lift at a shop. Lots of pushing and pulling etc. Front end parts are cheap, its the labor that adds up quick.
But do the shocks and drive it...see what you think.

Dave