I agree with the rest of the gang on getting the engine running first. I would use an "IV" bottle gas tank, you don't want to pump all the gunk in the original tank into your carburetor.
I would guess your vacuum advance is shot, the diaphragm inside gets old and rots away. Of course clean your points and check for spark before trying to start it (put voltage to the coil, replace the big lead that comes out of the coil to the dist. with a regular spark plug cable, put a spark plug in the other end and ground it to the engine block. Open and close the points with a screwdriver and the spark plug should spark)
Make sure you oil up the generator bearings before starting and have some fluid in the water pump so you don't burn out the bearing. Just my thoughts.
