First thoughts:
Cam shaft is not correct for the TBI set-up.
This is a good point. TBIs often don't do well with performance cams. This site does a good job with explaining TBI and cams-http://tbichips.com/.
Do you know what cam you are running? What was the base timing for your Gen 1 motor before the conversion?
A suggestion would be to see what the base timing you have now (with the timing wire connected) and compare it to what it used to be before the conversion. If the current timing is later, advance it to what it used to be.
It seems like a lot of guys were running ~15 degrees base timing with a mild cam. Overheating and backfiring can be caused by late valve timing.