HondaMan, do i need to push in the gap between the magnet and the pickup/trigger device? in other words... do I need to make the gap smaller by pushing the two black trigger divices (pointed with red arrows) in the picture more towards the magnet?
Well, I can only make an educated guess, as I haven't worked on that particular one. All but one of these aftermarket units use a Hall Effect transistorized switch as their trigger (the one that isn't this way is opto-electronic, different animal altogether). All of these Hall devices are very sensitive to the distance between them and their magnet. If the magnet is too far away, the trigger turns OFF too late in the revolution, and back ON too soon: this can make the spark appear to not fully advance under the typical timing light strobe. What is actually happening is this: at slow engine speed, the trigger stays OFF longer as the magnet takes longer to pass by the trigger. As the RPM rises toward 2500, the OFF pulse becomes too short, and the timing light, which adjusts itself to the now-weaker (and shorter duration) spark, triggers early and stretches the flash out so a human can see it. So, it appears that it is not advancing all the way, but in reality what is happening is: the spark duration is becoming very short instead. If you attempt to ride the bike, it will feel listless at 4k+ RPM from the very short, weak spark.
A direct example: in the 1970-1990-something era of Dyna S, when their backplate was made of circuit board material (much like your new unit), Dyna used to give a nice manual that showed how far the pickups should be adjusted away from the magnet in their rotor. IIRC, it was in the range of .015" to .025", and it it was more than .030" the engines lost considerable power above 6000 RPM. Starting in the late 1990s, Dyna changed their pickups to a more sensitive type so this gap could be made wider, because many of the pickups were getting hit by out-of-true spark advancers, and were being damaged. This new gap is more like .028" to 0.033", and has to be set precisely with feeler gages and the like.
So, I would suspect that your new unit has some sort of spec about how big the gap between those pickups and the magnet pole in the advancer should be. Use a feeler gage between them to help you make a consistent setting. If there is no spec, try the tried-and-true electronic industry setting of .030" first to see if it helps: on many Hall-Effect magnetic industrial sensors (for automated machinery), this is their magic number. You can usually go down to .020" before saturating the Hall Effect junction: if it gets saturated then you will have no spark at all when the magnet swings past the sensor. If you go too far away, it simply will not trigger.