"puffing" sounds via the exhaust are due to improper timing. Something is off. Did you static time it? That's the only way to do a CB450 IMO. Follow the timing procedure EXACTLY by the book. if your point gap on either side is outside the range of .012-.016 at the very end of the process, the bike will "miss" or "puff" when the timing isn't right. Also, use a strobe when you are finished, rev the bike to 4,000 RPM (having a large fan helps keep the bike cool) and make sure the advancer is within the lines. I had to modify my advancer on my K7 because it was 1/2" past the lines as the RPM exceeded 3,500 (this sentence isn't your issue, but PLEASE check).
"popping" sounds (not a backfire) made at the carbs can be due to many things, but for me it was having too much slack in my timing chain (my father didn't tension it correctly). Make sure your tensioner is set via the static method. If you take off your front valve cover, you can poke the chain. I was getting way too much movement which was throwing my timing off, even though it was set spot on.