If it were mine, and I did not understand mechanicals of the vehicle, the last thing i would do is go ripping the carb apart. First, do a compression test to see if you have comparable compression on all cylinders. If they are OK, then make sure the fuel delivery is clean (ie gas tank, lines, fuel filter, fuel pump). Make sure your gasoline is fresh and is not contaminated. Then get the points, plugs wires and timing done. Then go to the valve adjustments. You could put this ahead of points, plugs, etc. but with no experience, valves can be confusing too. Then go to the carb. Unless you know for sure that the carb is a problem, leave it for later.
If compression tests are bad, then check the valve adjustment.
Sputtering and coughing can be bad valves, or valves needing adjustment, it could be a bad condenser, points, or plugs/plug gaps, it could be bad fuel, old fuel, water in fuel. Until you know the difference, I would suggest starting with the simplest thing to fix first.
