UPDATE: Fortunately I have two of the top flathead experts right here locally. Both have it narowed down to either the fact that I always have had a full tank of gas and the problem started when I removed locking gas cap (Drake) which allows some air into tank, and put a new SS stock looking style on that is so tight there is no way air can get in to relieve vaccum/pressure in tank. DOES NYONE KNOW WHERE YOU CAN BUY A VENTILATED 40 FORD GAS CAP?
I just put in a new genuine style ballast resisitor (again) but this one is not cheapo ones availble in all the catalogs. I also have a wire jumping the resisitor with toggle switch so when we have the next test run (when wether clears), I will temporarily flip toggle and run full 6 volts to distributor for a few inutes. The rebuilder of the stock distributors said it will take quite a while before any damage will occur to the points using 6 volts. If car keeps running, we can rest assured that it is the resistor. The very full tank of gas I have is the result of putting another sender in the tank a few weeks ago so I could calibrate. Warning, if you buy sender from Drae or anyone, ask for solid modern float made from fuel resistant plastic and not leaky brass floats soldered together. My last float was filed with gas after one summer.
I will let you asll know if we come to any conclusion, but we are narrowing it down.
Thanks for all the interest.
Gary