"While setting the points I noticed the rotor can spin - if I try to spin it - almost enough to come off a lobe. Not quite, but almost. Is that too much 'free' rotational movement? It is moving the entire shaft, it's not the rotor moving on the shaft."

Is there any felt resistance when you "spin" the rotor? Does the shaft remain stationary when you spin the rotor?
If this were my engine, I would double check the point gap to see if it is still set at .016.
If it has moved off of that setting, it will act like moving the timing off of specs, causing a backfire.
If that all checks out, check your timing with a timing light.

Last edited by 52Carl; 10/21/2021 1:08 AM.

1952 5-window - return to "as built" condition | 1950 3100 with a 235 and a T-5 transmission