Rebuilt 318 install problem

IMO, it sounds to me like you’re at the point where it’s time to start swapping parts, especially since it would appear the distributor and module aren’t “known good” parts.
“New” doesn’t really mean anything....... other than you don’t know if it’s good or not.
There seems to be a lot of junk ignition stuff out there.

Any friends nearby with an old points distributor laying around you could borrow?

I guess we’re all assuming the reluctor air gap is correct.