Well folks, I have the answer. The problem was not fuel related with the power valve as suspected. I knew that I either replaced or bypassed every component in the ignition so I felt that ignition was OK. Plus I knew that during the problem time I experienced a number of backfires thru the carb, so I figured that I needed to look into the power valve.
BUT, . . . . Last night I found that the little iron "starwheel" that is in the Duraspark distributor and triggers the magnetic pickup was spinning on the shaft. The little rollpin that is supposed to hold it in in place was gone. Not sure how or why. I had taken the starwheel and pickup off earlier during the initial problems, and I know I put the pin in there, but it was gone and so my timing was all over the place.
So that is the end of Ed's enigmatic saga!!
Life is good again. No more laying in bed at night sweating and trembling
Thanks to everyone for your help.
Ed