Help needed with 318 (timing, ruff starts)

Thank you all for you help and information....just a few things coil is new, carb rebuilt by smith built carbs with power plate add on ( thompson performance) . only thing i did to the choke with the engine cold was move the coil cover to the right enough so that a debit card would clear between the flap and the carb. it seems to open up ok when engine warms up. . as far as the psi goes i can bump it down if i am putting to much fuel to the carb (1406) i am going to time it more correctly when my light arrives. yes i did it by ear last nite got me in the park enough to drive it, did 60 mph few pops and spark knocks still but not bad . it is an older 318 seems to have miles on it sure its not original. does smoke alot of blue smoke. doesnt use much oil tho.....id bet the timing chain is stressed but not ready to dive into that