Can anyone figure this out

check the engine vacuum, it should be 16-22 inches of mercury at idle, (possibly lower with a hot cam) but it should be a fairly constant vacuum signal, something makes me think you may have a vacuum leak creating a leak condition. also check the spark plugs to see what color they are. Kinda wierd it only runs with a points distributor. when you wired it to electronic ignition was it wired like the diagram below?