Engine sputtering at about 65

i wouldn't change the distributor unless it's faulty, or a points dist.

is it electronic? if so maybe just put an MSD streetfire ignition box on it.

if the motor has a stock camshaft in it then, the factory dist timing is fine. which will be about 28-30* mechanical advance most likely, so you set the initial timing around 8* advanced, adjust your idle mix on the carb and set idle speed. on to the next thing...

The timing does seem to be part of the issue, and because with a moderate pull the motor seems to do ok, but asking for more out of it, she sputters, I thought timing, specifically the advance. My thought was maybe this distributor is just not able to advance enough due to age or just being worn out. If it's just a new set of springs then maybe I can breathe new life into it.

The reason I thought HEI was two fold though, one, why bother trying to bandaid an ancient distributor and two, with an HEI, I can get rid of a whole bunch of clutter from the engine compartment which obviously needs help lol.

It's not electronic, no.