Today I had a detailed discussion with Mr. smijaz. He was very helpful in highlighting some ways to trace the source of problem. I've tested one (Vacuum advance operation) and the PCV test is yet to be conducted. The following links are for reference. Rotor Snap test seems to be Okay.
//youtu.be/http://www.youtube.com/watch?v=soXltdhJZUg
However, i cannot seem to operate vacuum plate by suction. The tensioner inside the diaphragm is a tough one. However I can hold it in its place by blocking the passage. It snaps back again when vacuum is released.
//youtu.be/http://www.youtube.com/watch?v=WcRsdxLpVgU
Finally, the plug-unplug effect of distributor vacuum hose on engine rpm.
//youtu.be/http://www.youtube.com/watch?v=g3zAJPVUUTU
You fellows can be the judge and diagnose whether the advance mechanism is operating fine or not. I am going to check the PCV valve on this weekend.