Ok, here is what has happened so far...I cleaned up and reset the distributor and now get 6.74 volts at the distr. and coil and I got a different carb that I rebuilt. I did run the starter on a 12 volt jumper bypassing the starting ignition system and used the truck battery only to power the ignition system. It didn't seem to make the starter run any faster.
Today I got a little positive feedback from the old beast. With the gas disconnected, I only used a few burst of starting fluid. When cranking, one of the cylinders (I think #6)would give a weak explosion and overun the starter slightly. This was pretty consistane while cranking. Using this I positioned the distr. to a point that it felt/sounded smooth. Then I connected the gas line and actually got the thing to fire up for about a 2 seconds. This only happenned when i pumped the accelerator. Then it quit and I can't seem to get anything to fire because the intake appears to be flooded now.
My thought is that its starved for fuel. The first 4 cylinders spark plugs appear to be clean, no gas. The rear 2 seam to swim because the flooding drains down to the rear of the manifold thanks to the slant of the engine. Shouldn't the carb. be delivering a mist? The only mist I seam to get is from the accelerator pump. Should I be disconnecting the vacuum line at the carb and plugging it. I'm still baffled why it floods. I've used two carbs and this rebuild and have triple checked the float adj., needle, etc. what gives? Anyway I'm happy that it's getting closer.