Scout,
After I rebuilt my engine I had a similiar issue caused by several things. �Hesitation under load and occasionally popping through the carb. �I did the same checks with the points and condensers, fuel pressure, rebuilt the carb, checked the valves... �To make a long story short, double check your timing. �When I was completing my rebuild I incorrectly timed my engine and all I needed to make my engine run great was advance the timing about 10�. �