Ugh. You MUST check and verify that the crank, cam, and IP are all timed correctly. Cam & crank should be dead on with a new chain, which I assume you have checked. Next step is the IP. It must be WAY off to do what you say it's doing. If you're lucky, your OM617 may be able to use the lock tool, which is a huge help in setting timing (and/or pulling the pump & re-inserting). Look for a 17mm hex-head plug on the lower/middle of the pump... if you see one, your pump can use the tool. If you don't, you're stuck with the old methods (and the "wet" method of adjusting start of delivery). Here's a photo of the lock tool:
HTH,