Valve or spark timing. If you set the point & plug gaps right and you got a good condenser (lots of complaints about cheap chinese made condensers), setting timing is the only remaining thing to the tune-up. You said you replaced the distributer -- I'm assuming the cap, how about the rotor? If you replaced the whole distributer, or removed it, did you line it up the same on reinstall? If valve lash is at specs & springs/seats/rocker arms are ok, try advancing the spark timing if the pop is exhaust/****** if intake & carb popping. Any arcing on the wires? If none of those fixes it, your next step would be to check timing chain/gears for proper crank/cam positioning.