The points are gapped at .017, clean them by sliding a dollar bill between them, it does work.
On the timing mark where the distributor is with a marker for a referance point so you have a place to go back to at any time. Rotate the dist. 1/8" the same way the rotor turns that's equal to 3* in timing. You can power time it, rev it up and shut it off, keep backing off the timing until you dont get any run on. That should work for you. Make sure the weights are not sticking, you can rotate them by turning the rotor by hand.
Luv the smell of NITRO in the morning.