Stubborn starting question...

So the previous poster was correct that the cam was slipping [there was heavy wear on the distributor shaft,

What do you think? Am I on to something?
At the risk of speaking out of turn, I am pretty sure the cam post was talking about the "timing chain" slipping a tooth on the "camshaft gear", nothing to do with the distributor internals. A skipped tooth can happen if the gear is greatly worn, or an old and brittle original nylon gear (used on some early cars).

I think you will forever be spending much time fooling with points. I sure wouldn't have bought a new points distributor. Better to have bought a later (~1972+) electronic distributor. Add a cheap GM HEI module and coil, lose the ballast, and your ignition would be much better and more reliable.