I seen some things happen , that might fit what is happening to you --- 1) if the diaphragm leaks on top the carb it will make it run like it is out of time when you reach 1/2 to full throttle and it will backfire and spit , but run great at idle to 1/2 throttle ---- 2) the connecting rod can get bent , it do't take much , the piston will never fully achieve top dead center when rod is bent , makes it run like it is out of time ----- 3) the valve stem will get bent from hitting the top of the piston maybe from a stretched timing chain , or from metal gauging from lack of lubrication or such , with a bent stem it will stick and the valve not fully close or not open ----- 4) the timing chain will get stretched , you adjust the valves , spin t one time and the adjustment is off 5) you might have a combination of problems ----just throw some stuff off and see what sticks