I do not think that is a proper way to set your timeing.
Points,HEI,Petronics dist,does not change what your timeing should be.

Need to use a timeing light.
That would be the first thing to do.
Second,close your spark plug gap to .035.That way we might see if you ignition is cutting out under load.
After,then take it for a spin & let us know what the out come was.

MBHD


12 port SDS EFI