HEI module going spastic?

What about reluctor phasing? could be the extra power is causing the spark to jump to another contact.

..............are you ABSOLUTELY certain that the pickup coil is wired with the correct polarity?

Check all 8 plug wires AND the coil wire for continuity. Remove them, hook your ohmeter up using a clip lead on at least one end (if the ohmeter leads contact a finger on both hands, it will give your body resistance)

With an end of the wire in each hand, shake the wire looking for resistance change. This is best done with an old analog meter, or with a digital that has a bar graph on the display.

Check reluctor gap on all 8 tips, the dist shaft could be bent. Reverse the two reluctor wires and see if this changes anything.

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