Well time for that update.
For several months I have NOT been working on getting the Cruiser on the road. What I have been working on is figuring out if there is a market for wiring harness repair/updating. I believe there is. I have finished totally documenting a 2/71 harness and can now build a brand new one from scratch. OR I can take an existing harness, repair any damage, then add whatever circuits you may want like off road lights, rock lights, headlight upgrades, ground circuit upgrades, alternator/regulator move to passenger side, aux fuse blocks or whatever else you may desire. Now I just have to figure out if I can make money doing this.
OK so today I took a break from wiring and decided to start the truck...

Remember it has not been started in about two years!
After about 4 hours of tracking down and hooking up all the crap I needed , I filled the tiller tank with fuel, primed the carb float bowl, sprayed some starting fluid in the carb, hooked up my starting harness and hit the starter switch. Cough, sputter varooooommmm!!!! KA-B00000M!!!! The ka-boom was a huge backfire! Hmmm.... Ok.... I backed the timing down a bit and tried it again... same result but it ran a bit longer. After many attempts I was finally able to get it to run as long as I was giving it lots of gas. The pump finally primed and the fuel level stays half to a bit over half in the window. (I am sitting on a slight downhill driveway) But it will not idle at all and it still back fires if the RPM's drop and I goose it. Oil pressure runs almost 65PSI while running.

I think I may have the oil regulator adjusted a bit high...
Oh I also have about 4 oil leaks. Two good ones from the side cover and one from possibly the timing cover.
Here is what I have:
Downey 2 into 1 headers with new gasket.
Jim C. freshly rebuilt carb (It has sat with NO fuel in it till today for about 9 months)
No throttle or choke cable hooked up, doing it all by hand.
All ports capped on intake, carb and dizzy.
Jim C. recurved FJ60 Dizzy and ignitor with strong blue sparks
New plugs, cap, rotor.
Carb solenoid clicks solidly when power applied.
Issues: As stated it back fires and will not idle. Another thing I noticed: it may just be me not being familiar with an F engine and headers but the radiant heat from them is intense. Could I be running lean?
Need some suggestions on getting it to run well enough to set the timing and check exhaust temps. I have to go to a cookout but will be back tonight to read your suggestions which I will start applying tomorrow. I'll also post some pics...