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Your valve timing didn't change, however the ignition timing may have. I'd check the points to be sure they are still set correctly and haven't loosened/moved on you. That should be a battery coil ignition, so the points are what sets the ignition timing on that unit. Also check the plunger that opens the points for wear. I'd also drop the bowl on the carburetor and see if there is any dirt/water/varnish in the carb. A lean running engine can backfire when starting due to the poor mixture. I've seen that myself more than once. Especially since you were using it to blow snow, I'd suspect some moisture may have gotten into the fuel system. You could drop in some isopropyl alcohol (ISO-HEET) and see if that helps. Still wouldn't hurt to check the carb.
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'76 IH 1066 Turbo Diesel, '73 IH 766 Diesel, '72 IH 574 Utility Gas, '56 IH 350 Utility Gas, '46 Farmall H Gas, '08 Bobcat Toolcat 5600 Turbo
Nobody puts that "C" word in front of MY International!
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