so as i was trying to figure this out i have replaced quite a bit of stuff, still not much better. I replaced the carberator, the spark plug wires, the plugs, and the fuel pump. I also replaced the fuel filter. The car will run and idle, but it still sounds like it is missing some of the time. When driving, it will run but will "miss" and cause a lack of accleration folllowed by a bucking and then the process starts over again. any ideas? I was thinking about the distributor next.
Does it still appear to be overheating (foaming anti-freeze)? As previously suggested, perhaps you should run a compression test and post the results. If nothing else it will give you an indication of the health of the motor internals.
I have not really run it long enough to see if it will overheat, i did drive it for about 10 miles and it did not, it did have a consistent miss that causes the shuddering effect. Almost like one cylinder is not firing, or it is starved for fuel. I ordered a fuel pickup for a 68 mustang and i will install that and see. I also ordered a pertronix for the distributor. I was planning on doing all these things anyway, so i dont view it as a loss if they are not the problem. The engine seems strong and has plenty of power when running. I notice that when the car is idling and i pull the throttle back by hand, i can hear the skip, like reeeeeeee--eev!
have you checked the oil level yet? you need to see if the oil has coolant contamination. it will look like chocolate milk if its contaminated. the points could definitely cause some of your problems. i would recommend doing a compression tests also.
did you properly adjust the points and check the adjustment with a dewell meter? did you reset the timing after changing the points. new points will change the timing.
So, all of you who said to check the fuel system: I took the new carb apart and it was full of crud, after draining the tank and installing fresh gas the car runs great. I think what happened was the car was starved for fuel due to crud in the carb, the car overheated from the hard driving i had to do with it to keep it running and that caused the overlflow because i am not getting any overheating now. To date, i have replaced the coolant, replaced the carb, replaced the fuel pump, replaced the voltage regulator, replaced the points, wires, plugs, valve cover gasket and pcv. Of course, i drove it all day yesterday and just as i was pulling into my driveway i pressed the brake, felt something kind of let go and got the "brake" light on the dash. Off to the next problem! Thanks for the help!