Please Help

[GSoundinc]

Hey Guys,

I have a 92 Firebird with a 308 5.0 TBI.  The first problem i had was a loss of power until it no longer ran.  So I adjusted the timming on the distributer, and got a massive increase in power from what it was before.  Then over a four day period, it slowley lost all of it's power again, and now when you try to crank it, it shoots flames out of the carb.  I replaced the entire exhaust from engine back.  I replaced the distributer, the button, the spark plugs and cables.  This was all about a year ago.  i just pulled it out of the garage and changed the oil, flushed the radiator, and cleaned out the gas, and replaced with new.  Then Replaced The timming chain, thinking that it has to be the problem. WRONG I GUESS!!!  I made shure that the hash marks were touching each other.  I bumped the engine until the #1 piston was up and set the timming on the distributer button to #1, tried to crank it, nothing.  So i turned the button 180 degrees to make sure i had it set to the right cycle, and it still turns and turns and then shoots a flame out of the carb.

any advice or direction would be awsome  

                       

[pupp1]

How is the cam?Are all of the lifters working?Did you set the timing marks after the piston was at top on the compression stroke.
Remember you have to set the timing marks while the number 1 piston is at the top only if that is what the book calls for.Get a repair manual for the correct timing.
To me it sounds like the timing is not set right or the valves are not opening.
And of course the valves will not open at the right time if the timing is not set right.
A quick way to check this is to see if you have good compression on every cylinder.
Let us know what you come up with.