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Jason,
Sorry, but I've been away from Club Cobra for a few days. Everytime I skip a few days, it takes me a week to catch up. Just to clear up a few items:
1. The distributor is a Ford modified by Southern Automotive with a magnetic pickup.
2. Per Bill Parham, the eyelet connected on only one side is normal.
3. The Holley is new (about 2 yeras old) so should have the power valve protection.
I can fully appreciate your frustration. The hard thing to figure is why it ran so great after Bill / SA had it, and now it doesn't. Hopefully your mechanic can fix it, but I would still bring it back to Bill. He is the Ford FE expert. He stands behind his work, but may be hesitant if someone else has played with his baby.
A question to the experts. Would a faulty ignition module in the distributor cause this problem? The only experience that I have had with faulty modules is either the car will not start at all, or it will die after it heats up.
Keep the faith Jason. Between Bill / SA and the experts here, you'll be back on the road in no time.
Take care,
Bruce
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