Does it perform well all around - sounds like it CAN do "heavy accelerations" - BUT the " burping and back-farting" , akin to backfiring through the intake ? , Like leaky or bent valves ? That could in time become a carb fire ? But sounds like very recent engine work or rebuild done . And maybe if it's just sort of a Beast right now , hasn't burned to a crisp , just break it in ya know? Valves taking a better and better "seat" after 500 mi .
Finally or better yet first off re-check valve lash/clearances ,for adj. , if any may have valve(s) not fully closed ,all or just some. Or cam is too "Wild" in profile as in baseline,duration overly wide for springs, but more likely too high lift ?? Who knows.