Thanks!!!
The dizzy was wired all wrong!
Ignore the smoke, the breather was blocked so it was coming out the rocker cover...
Check out this video on YouTube:
http://youtu.be/KqlMq6Fw0os
Second one, fire!!! So not tuned! Also dizzy is lacking its vac advance so timing is well out.
Check out this video on YouTube:
http://youtu.be/eGrxzd4lY-Y