Drg racr

I've got an '85 Mustang LX, 2.3L, 1-bbl carb, auto, 87000 miles. The guy I bought it from said the carb needed rebuilt. I rebuilt the carb, but still it runs lousy.
Its hard to start, and when it does, it misfires under 2500 RPM. It sounds like the car is skipping cylinders. The fumes are so bad it makes your eyes burn. Above 2500 RPM it runs better, but still smokes like a chimney.
I've replaced the TFI, cap, rotor, plugs, wires fuel filter and pickup coil. I've checked over and over for vacuum leaks, and I've checked timing at the dizzy and the cam. It seems like its dumping too much fuel into the motor.
What am I missing? A bad sensor? Its got a TPS, but I unhooked it along with all the other electrical junk on the carb. The O2 wire got burned by the exhaust as well.
I'm about ready to light a stick of TNT under the driver's seat.
Somebody help!!!!!!!

Drg racr

Oh yeah, when I was playing with the timing, it backfired thru the exhaust so hard I blew the muffler apart and scattered the innards all over the yard.