power valve makes my 440 ping??

yep, only one set in a twin point dizzy. billet elac upgrades on my to-do list.

First thing, if you got new points and condenser replace them. The condenser could be crapping out therefore your coil is not getting the saturation it needs, secondary voltage is down and spark is weak and the engine will knock like crazy. Best case replace the dizzy with a high voltage unit like the Mopar with the orange box and .5-.9 ohm ballast.

Second thing, turn your fuel pressure down to 6.5-7 lbs. and with that regulator it should not creep above that unless the regulator ball and seat are worn in which case replace the regulator.

Good Luck