Has it a strong smell of petrol, or does it smell of something else? Being unhappy with constant speed is a classic symptom of a lean mixture, but that wouldn't go with a strong petrol smell. Lean mixtures also can give a smelly exhaust -- perhaps if we were both wine tasters we could communicate at that level ("strong turpentines with fish and chip shop colours and a burning rubber finish") -- but I'm not, so let's not.
Not sure what to make of the "valve" noise. Pinging can have a clattery sound which can be mistaken for valve rattle, but we've already done plenty on ignition timing.
Like Peter, I think it'd be helpful to have a better picture under various conditions. When is it ok, when does it play up. You've driven it round the yard. Does it seem to behave itself under a heavier load? If you try a standing start in second, does it work as it should, or miss and play up?
Have fun,
Rob.