That is strange now bear with me here it may seem weird but you only removed the wire coming from the points to the distributor? Then hooked up the 2 wires coming from the ignitor unit to the coil Red to + Black to - ? I don't know the 427 ignition system that well but isnt there a ballast resistor in the system? If there is you may need to get rid of it you said you put on a coil is it a Pertronix coil? if it is did you get the right coil they make 1.5 ohm 3 ohm and .6 ohm coils. And depending which one you got you may need to remove the ballast resistor or add one if you dont have one. Do the following series of tests.
To determine if your systems coil is compatible with the Ignitor, some measurements should be taken prior to installation of the Ignitor. Caution… While performing this test, never leave the ignition switch on for more than 30 seconds at a time.
Set your voltmeter to a 15 or 20-volt scale. Attach an 18 or 20 AWG jumper wire from the negative coil terminal to an engine ground. Attach positive (red) lead of your voltmeter to the positive side of the coil, and the negative (black) lead to an engine ground. Turn the ignition switch to the run position. Now read the voltage at the positive coil terminal. Turn the ignition switch off. If the voltage measured is approximately 12 volts, no resistance wire is present. A typical resistance wire will provide 9 - 6 volts.
The next step is to determine the resistance in the primary ignition. Label the wires attached to the coil terminals and note their appropriate location. Make sure that the ignition switch is off and disconnect all wires from the coil. Adjust your meter to the lowest ? ohm scale. If you are using an analog style meter make sure to zero the needle. Measure from the negative terminal to the positive terminal. Write your measurement down.
Now the maximum system amperage can be determined, divide your voltage measurement by your coil resistance measurement. This will give you the system current or amperage.
Four cylinder engines should not exceed 4 amps. Six and eight cylinder engines should not exceed 8.5 amps. If the total amperage in your system is higher than the amount recommended for your application, you should install a ballast resistor.
Example Voltage 12
Resistance 1.5
12 / 1.5 = 8
Total amperage 8
that will tell you the answer to your problem I have a feeling. but I could be wrong!