I know this is old, but I finally got it figured out. I gave it a break for the winter and started over with it again this weekend. I almost converted it to Electronic ign but first I wanted to try and get the HEI to work. Started over from scratch, found 2 new power sources that provided 12+ volts. Installed the set-up and it started and ran fine, set timing and put a load on it and it spit, sputtered, missed then stalled. I pulled it apart, removed the super light advance spring, welded the slots in dist, put it together and it did it again. This time, while it was running it sounded like there was a swarm of bee's under the dash, then it stalled.
Figuring that the new Pertronix Flame thrower coil was making the noise, I changed it to an old Accel coil I had laying around. Truck fired up and runs like a champ! I drove it a few miles, and the power and driveability is night and day comparison. Felt like I changed the teen out for a strong 360. No joke. I have to make a coil bracket for it now, but it runs with HEI and no more leanburn.
I know it is an old thread, but I felt like I needed to let everyone know what happened. Since it is several months since I bought the $70-ish Pertronix coil, looks like I have an expensive paperweight.
Thanks, Paul!