get rid of the vacuum advance... unhook it, and plug the vac advance valve. With a cam like your's, you need full advance as quickly as possible.
Your total is WAY too high, and it might explain your backfires... And I wouldn't be surprised if you're getting pre-ignition/detonation. A rowdy SBC likes between 34-36 deg of total advance... any advance past that is only benificial if you're running a stroker or a race cam.
Once you get rid of the vac advance, your advance curve will shrink too... which means you'll be getting to full advance quicker. Performance and torque will significantly improve, and HP will still be there.
Do's your harmonic balancer have timing marks past 20 deg? If not, do some math and mark out 33, 34, 35, and 36 deg on it. Or get yourself an Advance timing light.
here's the one I just picked up:
http://www.equus.com/Product/Detail/1ED ... 36BC2E44BE
this is a cheaper version with manual dial:
http://www.equus.com/Product/Detail/FAB ... 1355B58FD3
it's the best way to set timing accurately... dial your advance on the gun, and point at the balancer and see if it lands on Zero deg, if not adjust distributor and try again.
The RPM readout on the digital gun makes it super easy to tune by yourself... If not, you'll need a friend to read you your rpms while you adjust timing.
Rev up the motor and watch for where the timing stops advancing... then, set your full advance at that rpm. Then let the engine rev down and check where the intial timing sits, should be around 15-20deg.
experiment with which total timing you feel the most torque off the line... Experiment with where it starts to ping under load (try a couple 3rd gear launches, surge into the throttle, don't punch it off the line, try loading the engine more than normal). If it pings, go a degree or two back down.
When you're happy with what you've got there... start experimenting with bringing the full advance at an earlier rpm, say 3000rpm instead of 3500rpm. Check for pingging the same way...
hope this helps...