Need help with my flaty...Is it possible that engine may have "jumped time" or have a bad distributor...or bad plug wires. Engine had been very hard to start, after sitting all winter. When it started, Super rich black smoke every where, and engine just roars up and dies down at Idle, gas seeped into the crankase, after runing it a while in this rough running condition. I"ve had this flatty since 1997 and know it well. But this time I'm stumped. Since this problem occured, I have: Replaced carburetor with a FACTORYnew carb from MAC's, all new fuel filters, new dist. cap, rotor, points condensor. Drained crankcase and changed all oil and filters.

COULD THE SPARK PLUG WIRES[ 13 YEARS OLD] BE GROUNDING OUT SO BAD TO MAKE IT RUN AS IF IT JUMPED TIME? iT IS NOT BACK FIRING, BUT JUST REVS UP & DOWN AT IDLE POORING BLACK SMOKE OUT EXHAUST.

COULD BAD GAS/WATER IN GAS DO THIS?

I have yet to check timing will do SAT [put #1 piston up to TDC on comp. stroke & make sure rotor is at #1 pos on distributor]
PS I have noticed distributor shaft moves up & down about a full 1/8" or more! Any advise apreciated. Thanks in advance!