Check list:
Valves - is valve timing and clearance correct?
Ignition Points - Set gap
Spark Plugs - Clean and gap/check dwell angle
Distributor cap and rotor - Clean and check for cracks
Distributor shaft - Check for excessive play
Plug wires - Check conditon and for correct firing order
Ignition timing - Set with vacuum advance disconnected
Vacuum and centrifugal advance - check function
Compression - Check
Carburettor - Fuel filter, float level, accel. pump volume, mixture, idle speed
Manifolds - Vacuum and exhaust leaks