Watching the video I would suggest the ignition system (distributor/spark) be gone over with a fine tooth comb. Make sure it's got good power!
A couple of observations, first when you try to start it you get that "cough" or minor backfire after a bit through the carb, that's a sign of spark firing too soon or when an intake valve is still potentially open. I doubt it was a side effect of heat/pre-ignition since you just started the motor for the first time.
Also, if you watch the pattern of the motor misfiring after the belt squealing stops you can see it's a fairly regular "timed" shake to the motor. I've seen something similar when plug wires are out of order or a bad connection which could be causing the "knocking" you're hearing if the timing isn't right for a particular cylinder(s). Which is not good for the motor, so best to sort this out before continuing to run it.
Also, that bolt that's been screwed in the middle of the carburetor where there would normally be the air cleaner attached. As your last post indicated, that hole goes all the way through the carb. That could be a vacuum leak if that bolt isn't "sealed" in there somehow.
I don't know HWYSTR455 personally but he's had some pretty good advice on the forum here and hopefully can help you chase down the problem. I'm sure he'll check out ignition, vacuum leaks, etc. Hopefully he can help you find the cause!
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