302 engine troubleshooting 1974 f100

[mustangsvo85]

ok people i need HELP! I know I have a lot to check but I only have a couple days to fix it so please help me figure out what to check first.

Truck is a 1974 302, according to previous owner the motor was recently rebuilt and it used to run really good. I put a performer intake manifold on it with a holley 570. full length headers with 2 1/2 inch exhaust and msd ignition coil with colder thermostat.

Symptoms;
prior to major problem it surged very lightly when barely on the throttle, i attributed this to a lean condition and I should go up on the jet size.
the alternator light keeps going on even though its a brand new alternator and battery, vehicle battery dies fast while driving.

MAJOR PROBLEMS; after driving it hard for a few seconds getting on the freeway, truck made a loud popping sound and started to lose power fast and would surge and jump hard. I had to limp off the freeway. Battery was pretty dead by then. I limped it home after I got a jump and it continued to hesitate and tick. SOund isn't a knock but a loud tick.

what to do!! I think i need to pop the valve covers off and adjust the valves. and i need to chase the electrical issue, thinking about just converting to the one wire internally regulated alternator too.

I just drove the truck lightly down the hill and back. the tick is still there but it seems to run fine but its a bit slower, i recharged the battery. do you think my motor power loss was due to dead battery, i was still able to drive it for about 20 miles after the incident home. thanks!!!