OK, where is the timing set? That would be a key component right behind the spark and air/fuel. What about the firing order? Did the wires get put back in the right place when the cap was swapped? What about the valves? Have you pulled the valve covers to see what's going on there? If the distributor is moving, that means the cam is moving, but could it have jumped? There has to be something simple that's being overlooked here. What about compression?