Your distributor wire should go to the negative post of the coil. As for the overheating issue I would suspect that you have a blown head gasket since you have pretty much done everythin else to prevent overheating. Have you checked the oil after running hot? Is there water in the oil? One other...
Sounds like it could be either the timing chain or the distributor the way it blowing back thru the carb. My experience has been that even with a huge vacuum leak you wouldn't get the blowing back thru the carb like that. You will get pressure on the intake and exhaust side, if you want to be...
Night Rider, i have a 66 that I am starting on and i need some parts, sounds like you know where to get the tail light lenses, I need those and the headlight bezels. If you can help me out with some leads I would sure appreciate it.