318 wont start and backfires out the carb?

Well Fu#k..

FRICKIN thing fired right up(Sounds great!!!!) , ran some smoke off the the hedders and shut her down.
Went to restart and just cranks and cranks.

Put timing light on No1 and no light, Put light on No8 ,No light.. Put light on coil wire and some light. (3flashes stop 3 flashes stop.) so coil and MSD apear to be working.

I guess im gonna get a new cap and rotor in the AM, maybe have my coil checked and hope I can get this dam car to run/move.. Plug wires are new as are plugs..

Gonna drink on this one...

Thanks for any ideas or advice.