stock 318 pinging

Slowly bringing this thing back to life. For now, I have it on the road. I have put dual exhaust w/ stock manifold, and on the intake side I have a K&N and drilled the airfilter box out a bit to let it breath. Thats it and thats how I am going to drive it until I get more cash. After recent plugs/wire/points/cap/rotor, I get two symptoms that might be related:

1) when I stab the gas, it hesitates and even dies sometimes. If I roll it on slowly it is fine
2) it has a pretty bad ping when I put my foot into it at all, even at low rpms. basically whenever the engine is loaded up and accelerating.

I put an octance booster in, if it helped it is not enough to tell. So on this totally stock 318, what do I look for to get the ping gone?

Points at .018 and plugs .035. Haven't touched timing yet until I know what I should try. There are so many opinions on here but none that I could find for this totally stock set up. Thanks