Hi Guys, quick update on this subject.
Using the kit I purchased from Adrian along with the new sensor and timing to be at 28 BTDC the engine now runs unbelievably well.....so well that you would not imagine it was actually possible. The problem with the misfire on WOT is now a problem of the past and the transition is remarkable.
This kinda confirms that if the timing is wrong (it was factory set to approx. 38-42 BTDC) coupled with a mediocre sensor, you basically get a unhappy running engine that will drive you nuts and have you point the finger at the IBEC.
Before any modifications the misfire reduced significantly when the IBEC was removed and the ignition supplied directly, however with the modifications explained above the engine is now a champ with the IBEC as the source of power to the ignition.
Here is a link to the video that I followed and the kit that I purchased.
A big thank you to Adrian from CH ignitions for the help.
Merry Christmas everyone and I wish you all a blessed and happy 2016
Mostafa