Smokes tires? Really?.....mines a turd off theline, its supposed to smoke tires?
I did the top end, hone, rings and carbs and have been fighting to get it run well. Mine is completely stock 71.
Its not what i would call quick, but i hsve it running ok now. I found that clean carbs, including elmulsifiers, playing with idle air screws and getting float height helped tremendously.
I can do about 80in 5th at maybe 5k? no courage to go faster.
It can only be 3 things, spark, air, fuel. Maybe to lean at top end, too much air?