What I've done SO FAR trying to find the demon.
Completely rebuilt the carb.
New fuel lines.
New fuel pump.
Emptied cell to check for dirt, ect.
Tried a different battery.
New plug wires.
Double checked timing - twice.
Took the dizzy apart & checked it with a fine tooth comb. Nothing I could see. It would almost have to be the coil if it's the dizzy.
I borrowed another dizzy from a friend today, so I will try it tomorrow & see if that's it.
If not, don't call the fire departmant when you see smoke.