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Here is the block diagram of a HEI IC. Bottom line is that with a mechanical switch on a Kettering ignition you need the condenser (capacitor) to allow the points to get far enough open to prevent arcing as the primary voltage rises to ~150 volts. Introducing this capacitor does effect the...

More than metal migration, you won't get a high voltage spark without the cap/cond. You will get a spark across the points. If you look at a grounded plug outside the combustion chamber you will see a weak yellow spark with no snap. With the condenser you will see a snappy blue spark. Proper...

Electronic Ignitions don't seem to need the capacitor across the transistor when it opens. ? The backward diode will reverse conduct and clip the primary voltage at 600 to protect the circuit.

Check float level, could be sloshing...

Are you sue that wasn't 13 ATDC? Here are the Seat to Seat timing on that YBlock cam Something like 256/266 .430 on a 108 lobe center should work well.

I found the specs for Y-Blocks ans early FE's and they were very similar. I also got the flow specs for stock 368 heads so I built a model in DynoSim5 and it worked out to very close to the advertised HP. I then looked at a more typical modern profile and here is a comparison of the 2. The...

Just about any cheap set of POS Jumper Cables will have plenty of Voltage drop....Try the Dollar Store