Thanks for both the replies. I hope it is the timing chain, similar to Tfoch"s experience...that would explain the lack of power now adays and the backfire through the carb . Now that you mention it , although this is going back a few months now , i feel like i DID have to clock the distributor in slightly more advanced than the book wanted , otherwise the idle was stumbling and not so smooth.
Ed, im pretty confident its not a intake leak, I did get plenty of Vacuum with my test gauge. Idles nice and low. Pretty sure its just a bad part somewhere I just want to find the dang thing and change it .