1979 Lincoln Mark V will not start!!!!

its cranks like it wants to start, but just will not start.  Car was running great
best it has sounded in years, we were at a stop light pressed on the gas to
go car sounded like it backfired, died and smoke came out from under the
hood.. It blew all the hoses off the "t" on the back wall....  These are all of
the things we have done so far and we are just at a loss.. New timing chain,
new distributor cap and rotor, new plugs, new wires, new wires to the
battery, battery test good , new starter, new alternator, exhaust gaskets,  i
am sure there is more that we have done but i just cannot think right now.   
all fluids are good no water in the oil, new radiator also was put in with in
the past year all of this has been done with in the past 6 months up to
literally a week ago.