I have a 49 farmall tractor that I put new wires & cap + rotor on. I was very careful to replace the wires 1 at a time to make sure I didn't mix them up. 1234 of course the firing order was 1324. Had pretty much the same as you here.
Timing can be a [censored].
Once you are sure the wires are in the correct order do this.
Bring the #1 cylinder to top dead center ON THE COMPRESSION STROKE. Do this by sticking your finger in the plug hole & rotating the engine by hand until you feel pressure on your finger & air pushing out.
Check the rotor is pointing toward #1 post/wire.
With the ignition on
Insert a spark plug in the #1 wire & ground it so you can see when it sparks.
Rotate the distributor away from the post just a bit to close the points(1/2 inch) & slowly rotate it back until the points open. When you see the plug spark you are in time.
This should get the truck started & no other adjustments should be needed.
