Timing way off..help.

I have 5.7v on positive side and 1.37v on neg of coil with key on....

That sounds pretty low to me.
Jump coil positive to battery positive when you get the distributor straightened out if it still gives you problems.
OR, you could do it now and use the distributor pigtail to make it spark.
Then you would at least have that eliminated even before you fix the distributor or get another one.