Points to Electronic

The MP orange boxes have had a lot of failures recently. I don't trust them. I've heard good things about the Revenator box.

The new MP distributors have an adjustable advance. You can adjust the total mechanical timing. I'd set your initial timing at 15 degrees BTDC. Then adjust the mechanical advance to give you a total of around 34.

Another thing is to make sure the timing mark on the balancer hasn't moved. The outer ring could have shifted which will give you false timing readings.