I pulled off the distributor cap and sure as heck the points were running hot. I swapped the coil and rewired everything with brand new wire and connectors and hooked up the resistor. As I expected, its still not 100%, the points are fried, but I was able to make it up to 50, all-be-it not quickly nor easily. New rotator, points, and condenser coming in today. And yup I verified that the condenser is present inside the distributor.
Measuring the resistance on the coil yielded 1.5ohm. The old resistor I had measured between 1.4 - 1.5ohm and the new one I have which is rated at 1.8ohm is measuring at 2.2ohm. Referencing old threads here on the forums shows that 3ohm collectively is the desired goal. Will running higher that 3 have any ill effects? Just curious.
Unrelated note:
I know many people absolutely love the throb of a straight 6 and I never really understood it, until i dropped the muffler and ran without it. That fresh 292 makes a very healthy sound unlike any V8 I know.
And once again, thank you to everyone that has chimed in on this thread, I greatly appreciate all your input.
