The reversing switch was such a good idea, even GM decided to remove it! Made such a little difference in the wear of the points, it didn't make sense to add all those expensive parts. If your truck ran fine without it for 700 miles, I wouldn't look back.
As to bad condensers, heck, I hear they show up bad out of the box now more than ever. And yes, I think it can kill your spark. Easy fix, may as well replace it and see. I'm not even certain it matters terrifically whether it's a 6 or 12 volt, but my local carquest usually has a "6-volt" model on the shelf. They're technically rated in microfarads I think, which is supposed to be matched to your coil, at least for optimum point life. BUT, ANY working condenser ought to do the job.
My $.02, anyway. Somebody smarter will come along and educate us both soon.
-Michael
