Well, I tried a different module but no difference. I was about ready to go out of my mind seeing that I could not think of anything else reasonable to try. I was walking back into the garage and saw the old cap and rotor that I had saved, sitting on the shelf. I thought well, why not, I tried everything else. Nothing to lose here. So I unbolted the new ones and replaced cap and rotor with the old ones. Started it up and WHALLA! It runs great now!
I am amazed and can't believe something so simple a fix which has been driving me nuts for over a freekin week.
Thank you all for your input and advice.

GNJ

Let me guess...an aftermarket part? I had problems for 3 weeks last year with water in the oil. Turned out to be a brand new set of aftermarket risers. Found this out by switching from one side to the other. As you said "WHALLA"

Yes - an aftermarket distributor cap and rotor bought at West Marine in Tampa and made by a company called "Sierra". The darndest thing about this is all the time and effort spent hunting and solving this issue. I was close to tearing the motor apart, thinking something in the valve train was misbehaving. What a load of relief!

GNJ

GNJ- I'm glad things worked out for you. One of the things that comes to mind that I've said in posts here is that NEVER assume new parts are good.You can get a bad part from even the best supplier. Parts retailing is so competitive now on what you can charge the consumer that shops will often buy the cheapest parts to increase profit margins.We, as consumers often shopping price can get caught up in this. Many years ago, I was changing plugs in an aluminum head BBC at Watkins Glen just before a race. I didn't even get the chance to torque one plug when I heard a crack and the new AC plug separated right where the gasket would be. Talk about an anxiety attack! Fortunately, I was able to stick a straight blade screwdriver past the headers into the plug hole and very carefully turn the metal plug shell out by catching the ground electrode. The two pieces of that 'new' plug sat on my desk for many years. For what it's worth...