[alexiskai]

Something I established with repeated testing about a year ago is that the Nu-Rex wrench and the Nu-Rex upper plate w/modern points don't actually go together well. If you use the wrench with the stock upper plate w/stock points, the timing accuracy is excellent – barely different from what you'd get using a light or ohmmeter. With the Nu-Rex upper plate w/modern points, the rotor position is visibly altered and does not match what you get when timing the Nu-Rex plate with a light/ohmmeter.

Attached pictures show results from timing the Nu-Rex plate with both the wrench and an ohmmeter. I agree with Paul that this demonstrates that the plate and points are assembled incorrectly – the points don't open until the rotor is almost past the terminal. His suggestion "to either replace the upper plate with a correct one, or mount the modern points to the plate but in the correct position" is good advice.