I changed the wires one at a time, from the old cap to the new, so they are in the correct order. And no, I did not change the timing.hmmm, you might run down the wires one more time. 18436572
added: or... did you change the timing?
At this point I suspect the carburator is the problem. Since I know nothing about carbs and am at a loss of what to do, I took it to the local repair shop around the corner. Damn, I'm nervous about the car being there, but the place is an institution around here and they do a lot of work on old cars.Some engine tuners will move the #1 wire ahead one position- to permanently advance the timing more.
If that is the case - your light won't read properly.
You may have to start at scratch, and re-install your distributor to the factory setting???
Or back off on the timing - see if that helps.
That engine looks like it has had some performance modifications - I would bet.