Are you able to move the rotor back and forth by hand if you hold the shaft that keys into the oil pump drive ? If so then it's doing what it is supposed to do with 1 light spring and those 2 weights ... go right to max advance at idle.

That distributor is called a RACE distributor for a reason. If you want it to act like a street distributor then you'll need to put in springs similar to a street distributor.