41 Ford rough running, backfiring, and hard engine vibration

[30aadoodlebug]

So I'm at wits end with this car. Two good rebuilt carbs, 2 different good distributors. New Vacuum lines, voltage regulator and it still runs like crap. Im running duals, and I get a little smoke out the left pipe no matter how rich or lean the carb is adjusted. Engine is vibrating like crazy at idle, and when I first start the car cold, I often only run on four cylinders. I have the idle backed all the way off, and shes still running high.

Im at a loss here. I'm hoping its not a valve issue. I did notice that one of the wires going to the ignition switch is hanging on by only a few strands.

any help would be appreciated