That distributor can be adjusted for the amount of advance it allows (by loosening the two screws and adjusting the window width), and how quickly (with springs).
But, if the billet dist behaves/misfires the 'same' as the factory distributor, I'd go back to the factory one again and check the idle/all-in timing and get it close to what Mattax has suggested. Focus on getting the max timing correct and let the rest land where it does - it's far less important than figuring out the misfire, and misfire isn't going to be affected by what the idle timing happens to be.
No reason for a stock distributor to not work, and it would work with the limiter plate you bought (if it becomes necessary).
I think the outer carbs are your likely culprit for the breakup, but your ignition is so out of sorts there's no way to confirm that until the timing is correct.