With the manual lever the engine seldom gets the timing it needs/wants. The BEST solution is a centrifugal advance distributor. a Model B ford or Mean's Super + if you like points , an FSI Zipper or modern style if you like electronic.
A centrifugal advance distributor (with 14 degrees of built in advance) set to 25 to 30 degrees max depending on compression falling back to to 10-15 degrees initial timing should wake your engine up.Always use a timing light while running with a scale next to the front pulley to set the timing.
I grease the overdrive shaft splines and change the gear lube every 5,000 miles per my conversation with Steve Mitchell. I grease the U Joint and front driveshaft roller bearing every 2,000 miles. using Lucas Xterm green grease.
Either the Aluminum 2 blade or the Multi blade plastic fan will do an excellent job of cooling your car safely with low noise. no reason to risk your car or health with anything else.
my math showed 47MPH at 2,000RPM in High and 59MPH with my .26 overdrive, 53-55MPH is a very smooth cruising speed. I;m building Burtz for a constant 60MPH cruise with MAX reliability.
Your car will start very well with 5 to 15 degrees of advance. Use a timing light and mark 10 degrees and 30 degrees on your spark quadrant. You never need less than 10 for starting unless Hanf cranking and never more than 30 at high speed.
Best solution is a Mode B Fordl or Super B+ automatic...
You need a distributor that turns counter clockwise. There is one English Ford engine that has this maybe thev1600. My personal choice is the Mean's Garage Super B+ points style distributor.
Flywheel should be balanced by itself,then pressure plate is bolted to flywheel to hold it. But only remove or add metal to pressure plate to balance it separately. Personally I'd leave it as is.
your engine needs 5-15 degrees of initial advance and a maximum of probably 26-28 degrees.
The way to get best performance is with a centrifugal advance distributor. I;m running the Mean's super B+.
for my original water pump I grease it about every 500 miles with Blue marine lithium grease. Back the packing nut completely off the bushing and grease only enough to see grease appear at the front of the bushing. then reinstall nut, snug it up.
my father taught me to soak cork gaskets in warm water to bring them back to size. use a pan big enough to lay them flat while soaking. its worked for 65 years.