Just an update in case someone comes across this and has an idea. I timed it and I'm still getting horrible vibration and noise. More on the down rev, if i get into the throttle and let the motor come down to an idle it's worst. I tore it down to the chain and sprockets and found nothing out of the ordinary. I ran the motor with no accessories (I replaced the waterpump when I had it off and wanted to make sure it wasn't that) still made noise and vibrated.
A couple things I'm thinking about now are maybe my harmonic balancer is at fault. The rubber is pretty weather checked and cracked. The motor ran very smooth before tho. The other thing is I replaced the washer on the frt. of the cam that holds the fuel pump essentric on and the dowl in place. Could a different washer on the frt. of the cam throw the motor out of balance enough to make a noise and vibrate? Any help would be greatly appreciated guys. thanks