360 timing issues

Yes sir. Take off all main caps then slide out the old, and lube up the new and slide in. It’s running so it can’t be 180 out.
well, means you did not pull the cam, remove the chain, and you've advanced/retard the timing, I would say either fuel delivery or something is wrong with you Mallory distributor. OR..... what ECU are you using? Could that be playing games?