After reading your initial post, I feel I need to clarify a few things before we can start:
- As an expert on this site, my only goal is to help you solve your issue - I won't tell you to "V8 it"
- As an expert, I not only have technical knowledge and experience, I also have access to extensive databases that serve as reference to back up my advise
Having said that, I can only help you if you keep an open mind and follow my instructions. For example, you post "Yes the chain is on right", yet the way you have to turn the distributor just to make the engine start tells me basic timing is off - the igniter itself has nothing to do timing.
Lastly, all my good intentions and all my resources won't help you unless you have the tools needed to diagnose and repair these issues.
So, my advice would be to start with a compression test - should be more than 142 psi evenly across all four cylinders. If not, chances are timing is off, which might imply valves are bent.