Did you re-adjust the timing after you installed the new points?
It sounds like you are too far advanced to me.
Another thing to look at is the vacuum advance, which could be damaged and/or the hose to it may be damaged or loose at either end. In this case, the initial timing would be good, but the distributor would not advance properly (if at all); BUT, this normally will not get better with more RPM, it will get worse (no power etc.).
So, I think idea #1 is where to start.
Owner: James Leach Global Expedition Services.
1995 110 Regular