Ok...so more details it is....
HS50
New:
Plug (used a CJ8 for clearance reasons
Head gasket (torqued to 200 in-lb)
Carb, filter, fuel lines
Intake & exhaust gasket
Muffler from Black Widow Motorsports
Oil
Mods:
Had to shorten stock air cleaner to clear down pipe on chassis.
Got it to idle but when I give it gas it shudders and falls flat. Almost seems like it missing. When I take the air cleaner off and try to rev it I can feel pressure coming out of carb. The main idle jet is adjusted about one turn out. Any more and it puffs black smoke and dies. Governor is adjusted per all the videos online. If I try to go opposite with the governor adjustment (for ha has) it dies.
Took the head off. The valves were very clean. Inspected them carefully and I could see no carbon build up on the seats. They all seat perfectly flush.
Ran compression test and had just over 80psi. Hooked up my compressor to the compression tester hose and pumped it full of air and no hissing sounds or leaks.
Stumped