Thanks Rick,
I am sure of TDC of #1 and that I am pointing to #1. The more I think about this, the more I think it is a wiring problem. I will run your test as well as the others tonight. A freind of mine just said that it is possible that the gasket for the Holley is in the wrong position. That would cause the same type of symptoms. I don't think that is the case, but worth a check as well.
Thank you to all who are helping me with this problem. Without this forum, my knowledge of the history, building techniques and engineering of Cobras would be greatly limited.
--Mike