I agree with you George. It does sound like it jumped a tooth or two, but because it was running like a champ and timing was set the day prior perfectly before I sprayed the engine bay a day later, that's why I doubt the timing marks are not correct, and that moisture may be my enemy. Also the symptoms as far as where it is set for it to run "smoothly" are fairly similar with both distributors, thus leading to perhaps a cap/rotor issue, as the same cap and rotor were used on both distributors. Timing marks were aligned perfectly when the new cam and cam gear were installed a few months ago.

The only thing that I can think of that may have slipped is the bottom (crank) pulley, however to me that seems very unlikely. I will verify when I get home from work today.