Only runs 40 Degrees advanced

Just throwing this out there, but is it possible that when it locked up, that the cam key snapped and the cam gear spun on the cam??

I spose, but if the OP had degreed the cam this would have shown up in quick order. There are likely HUNDREDS of articles and videos on the www about degreeing a cam, and an inexpensive kit from Summit or others is somewhere around 80-100 bucks. Degree wheel, dial indicator, and some hardware doo dads