I'd be finding somebody with a Sun distr machine to dial in that distr/ignition system. Pull the distr, coil etc and and get them working right on a machine, then when you put them back into the engine you'll know they are right.
Right now you are guessing, it might be a brand new faulted condenser or the wires shorting on the plate and you'll be chasing your tail around and around getting frustrated.
Remember that distr is very old and lots of miles on it.
