Indeed, I should have specified that it only backfires when engine breaking (my wording was ambiguous). Either way, you're right, there's definitely something amiss.
I did use the tach on my car. It gave a slightly more steady reading, but still not accurate enough for fine tuning. At this point I think I may return it and get a better ones that clips onto my coils.
I'm also thinking it's probably time to just replace the plug wires. I ghetto-patched one of them with electrical tape during the rebuild anyway, so it's probably wise.