Not Ranked
I KNOW point distributor systems, no way it's the ballast resistor.
Assuming the dist cap, coil, wires and ROTOR are good, I'll bet you money the problem is the CONDENSOR. That little round thing that sits next to the points. The symptoms you describe are classic for a bad condensor. I've seen bad ones that were brand new right out of the box.
Often people replace the points but NOT the condensor. Bad move, it's a very cheap part, not worth risking a problem over.
Ernie
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