I wanted to thank all you guys once again for your responses and help. I am taking things one step at a time. I think it has been narrowed down to a fuel percolation problem with excessive heat being produced from the exhaust manifolds due to the AIR pump pumping air all the time, due to a broken diaphragm in the diverter valve, plus a vacuum leak from the same cause. The cooling system checks out fine. The timing checks out fine. I'm still looking for a racing gas distributor in my local area.
What do you guys think about Joe Gibbs Driven Carb Defender Fuel Additive, for counteracting the ethanol in gas, possible help or waste of money?