I have had issues with the magnetic pickup inside gm HEI distributors being the incorrect one, or at least wired backwards. IIRC Pontiac OEM pickup coils were wired opposite of the GM ones. Maybe because of the module? I could get it to run if I advanced the timing to 35ish degrees roughly. You could try to switch the two wires and see if that makes any difference. I have also had different modules react differently . The best module as far as performance was concerned I ever used was the performance distributors one. If the distributor is new , It shouldn't be a concern but I had many failures occur at the base of the reluctor chewing into the plastic covered magnetic pickup. I think it was mostly cause by the distributor shaft drive ( Flat part at the end that drives the oil pump) being too short and the gear on the cam pulling the shaft down into the reluctor. At the point when I had issues it acted like intermittent spark and just inconsistent timing ,backfiring and causing all sorts of running issues.
BTW your wires are on correctly .