Does the ECM have a screwed-up "tune"?
Does the electronic timing advance work? Doesn't matter if the initial timing is correct if the computer never adds any advance.
A new damper could have the wrong timing mark. This is an issue on small-blocks, there's at least two configurations for timing mark, they're 13-degrees different if I remember correctly. I don't know if there's multiple configurations for BBC timing marks on the damper, or timing indicator position.
What is the cranking compression pressure? If it's reasonable, the cam is "probably" timed correctly. If not, cam timing error is a possibility.
How does THAT happen?
The old 366/427 tall-deck "Truck" engines used to make the exhaust glow under load--that was normal for an under-powered engine in a bigass, overloaded farm truck. Those engines also had a ginormous water pump, and TWO normal-sized thermostats in the intake manifold, leading to a double-sized upper radiator hose, for massive coolant flow.