"found a smaller diameter HEI with external coil that I dropped in and it worked beautifully for about a week then the magnetic pickup on the distributor went out. So, I figured it was a faulty part and got a replacement. Dropped it in and again it ran beautifully for about a week and has now gone out as well"

So the above statement means you got a replacement distributor? What exactly have you replaced? If anything?

Where did you buy the distributor originally and any replacements?

Is your Distributor a PCE376.1218 ?

Your Distributor is similar to a Pertronix. If you leave the ignition on, motor not running, the Pertronix can burn out. You had 12V to the Speedmaster coil 24/7, even with key off. So that would damage something probably. Also you had other miswiring as you stated. (positive red distributor wire to the coil negative, OUCH!)
I would think your coil is fried and your distributor is baked smile.

If she starts now, she's OK.

Right is right, even if everyone is against it, and wrong is wrong, even if everyone is for it. - William Penn