Crate engine cam timing off?

First, throw that dial back POS in the ditch. Get an old NON dial back inductive timing light and take another reading. Unless that light is a digital dial back, there are WAY too many variables that can make it read incorrectly. Yes, even with Snap On. instead of being fancy, just let the engine be its own dial back. It's the most accurate in any case.

Secondly, as others have said, degree the cam. Nothing like makin SURE the cam is installed correctly.

Once that is done, give it a good hot ignition timing curve. "around" 20* initial and all in by "around" 2500. All that will wake it slap the hell up.