I had a similar thing with my old boats BBC, not to that extreme as to backfire though. The boat would balls out to 5100 rpm forever if you flat footed it and held it. If you lifted at all, then flat foot it again, it fell flat on is face and spit and sputtered trying to get above 3500. Did the same thing if you just rolled gently into it. Weirdest thing I ever had to mess with. Spark plugs were perfect.
Immediately thought, Carb, or vacuum leak (Did find a couple small ones on the carb base gaskets and the same thing you described with "bolts and screws" plugging vaccum ports. This was a Holley 750, BTW. Replaced the base gaskets, put real caps on the unused vacum ports, 3 different carbs (2-750's and 1 850, all known good).
Still did it.
Also had the HEI on it. Replaced the cap, rotor, coil, plug wires and also noticed a lot of oil under the rotor, in the reluctor area, so cleaned that up and replaced the module in there also.
Still did it.
When I pulled the dizzy back apart, still in the engine, to check and see if I messed something up installing, was oil everywhere in there again (I had always noticed some oil gathering around the base of the dizzy and running down the back of the engine, but figured it was a bad O-Ring on the body of the dizzy to the block and I'd get to that someday. Didn't leak enough to really worry about)
A-HA!! Pulled the dizzy and the bushings inside were so shot that I think if I yanked hard enough, I coulda pulled the shaft clear out the top with the gear still attached!
I replaced it with a Unilite and Hyfire 6AL box,
Problem gone!!

HEI's are just not my gig, so fixing that thing up AGAIN (was $115 into it already) wasn't even on the menu.
Just one thought. Another simple one COULD, just maybe be, some on the site have seen this one also, that the rockers are wayyy overtightened and cranked down from someone trying to get rid of a lifter "tick" that was really a collapsing/failed lifter issue and not a simple adjustment issue. This would give every indication of a bad valve spring or two.
Ray