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I have a 1964 F350 with a 292 Y block and a 600 CFM Holley Carb. On deceleration I get popping sound through the exhaust. I advanced the timing and it seemed to go away, however when I re-adjusted the idle on the carb the symptoms returned. Not as bad as before but a light popping on deceleration and slight hesitation when tramping the throttle.
All new plugs and wires, brand new exhaust professionally installed, patriot headers and cherry bomb pro mufflers. Distributor, and cab has been cleaned and inspected and all looks good.
Did a compression test and results were excellent, fuel pump is operating properly.
How many miles on the engine? Have you adjusted the valves?
Have you ever had the timing cover off to inspect the timing chain?
I would be wondering is the valves are mis-adjusted or maybe even sticking a little. or you have a severely worn timing chain.....
Do you have smoke on deceleration?