Ok I spent more time trying figuring this out. It is clearly only getting about 10 degrees of advance with the Pertronix III, and it was clear (based on me rereading my build thread) that with the points I was getting more like 20. I have this nasty feeling that the magnetic fields that the Pertronix III use to fire the coil against the points cam are not sharp enough and get smeared out. The real electronic ignition reluctor is sharp gear teeth not the soft bumps for the points.
Been thinking about this. An easy way to check how much vacuum advance you have is to idle the motor and then idle it while using a hand pump to actuate the vacuum canister. Checking the timing both with and without will show you how much is available and at what in/hg. You would almost need to route a vacuum gauge to the windshield and drive it to see how much you are actually seeing while driving.