High Performance Olds

I still don't buy that very rich mixtures cause hot exhaust on a gas engine , unless the fuel is oxygenated . On a diesel maybe . Generally , once the oxygen is used up the fire goes out and the rich mixture just goes out the exhaust as soot. If you've got another source of oxygen introduced in the exhaust system or through the AIR system then you can get some super hot exhaust temps. It's just chemically impossible to get a mixture with a no oxygen to burn .

It's timing.

Most common reason for glowing pipes is retarded timing. I know you said the balancer is new, but did you verify the TDC mark was in the correct position? Just because balancer is new don't mean shit. Mfg mistakes happen even with the best.

Also check for lean mixtures, air leaks in exhaust particularly near the collector, plugged exhaust.

Art

What do the plugs look like ?

just because it's a new balancer doesn't mean it's right, borrow an old factor balancer and switch it out to see if TDC matches. you have a timing problem of some sort and you've triple checked everything else, so why not double check the balancer?

ok so this is the results of the 5 gas analyser. i have 2 readings, one for each bank since i dont have an h or x pipe in the exhaust. 2300 rpm no load.
BANK ONE: HC= 43 ppm CO= 1.87%
CO2= 13.50% O2= .29%
NOX=122 LAMBDA is equal to .9578 or 14.08:1 A/F

BANK TWO: HC= 56 ppm CO=1.84%
CO2=12.9% O2=1.40%
NOX=151 LAMBDA is equal to 1.007 or 14.8:1 A/F

one bank is running a little richer than the other but BOTH headers are getting hot. A look at the plugs showed normal coloring they are a light tan color and are not fouled at all. They are still brand new though. Also i had originaly gapped them at 36, so i opened the gap to 60 and didnt see any difference on the analyser.
I double checked the timing marks AND the balancer. Total timing is at 36 degrees, anything more and the engine pings under load. Should i advance or retard the cam timing you think? Right now it is installed " straight up ". If so which one retard or advance?

did you leave the 1 out on the O2 reading on bank one ? if so then youre not too lean. O2 and CO should normally be within .5% of each other.

yeah sorry o2 on bank one was 1.29%

The CO looks OK , but you can run it up a little over 2% if it helps . With the headers glowing hot , it makes me wonder if the HC's and O2 readings are accurate , because if there's still oxidation-reduction reaction going on inside the tubes it's gonna alter the readings.