I'd inspect the coil. It wouldn't be the first time that I've heard of a bad coil that ran ok at low rpm, but crapped out at high rpm. Do a secondary resistance check on cyl 1 and I bet you find high resistance or open circuit.
To properly inspect a timing belt you have to make sure you look at all the belt. This is done by marking the belt you can see with a permanent marker, and then bumping the engine until you can't find part of the belt that you haven't checked. Remove the coil plug-in to make sure it won't start, and key off, floor + hold the accelerator so it won't spray fuel when you bump it with the starter. Also, look at the wear on the teeth of the belt. On the back side of the belt you're looking for missing rubber or cloth showing through.
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