Hi again. I subsequently noticed that the backfiring was occuring more when the engine was warm, so I looked that up and most everyone agreed that that situations occurs when the coil is on the outs. So, I replaced the coil and that sure seems to have cleared a lot of the backfiring up! Now I'm playing with the GAV to see where I should put that - too lean and it backfires, so I'm leaving it at about a half turn (perhaps a little more) and that seems to be working so far. So, MMO in the tank, new coil, properly (I think) adjusted GAV, and I should be in business again. Thanks again!!
With the GAV setting at half a turn you are leaning the mixture from the typical 1/4 turnout, for low to medium speeds Perhaps it is running rich? Pull a plug and look at the plug condition, if the center insulator is black motor is running rich.
Do you ever see any black smoke out the exhaust? if yes running rich.
Have you recently adjusted the idle and idle mixture screw, perhaps needs adjustment. Is set with engine warm and GAV set to 1/4 turn.
Pull the distributor up, the block where the distributor sits on the block should be bare metal, free from paint and corrosion. This surface is the major mechanical ground point for the distributor points and the condenser. From experience this was painted by a motor rebuilder on my motor and caused me a lot of grief including some occasional backfires when it would miss and the exhaust built up with gas/air mixture. It is mre prevalent with a misadjusted idle mixture screw, when tuning off the motor.
Motor cold, with the Fuel shut off on and sitting not running for 15 minutes do you have leakage from the Carb? Go for a drive and with motor up to temp, turn off motor, wait 15 minutes check for carb leak,. Let sit for a couple of hours and check again. If leaking after the 15 minute checks - could be carb gas bowl is overfilling due to a leaky float valve and causing the jets to run rich. The two hour test should not be an issue as long as you are in the habit of turning off the shut off, a perfect carb should never leak.
Get a Float gauge, if do not have one purchase from Renners which has the larger diameter sight tube, check if your carb float is set to 5/8 ths. inch. If not the float valve requires shimming.