Alright -- Checked some things out last night. Bought all new spark plugs, rotor, cap and points only to take my existing stuff apart and find that they were also all brand new. Nice little surprise on a "roller" that I paid $1000 for.
Checked the points gap and gapped the spark plugs per the manual.
Took off the glass filter bowl and found that it was filled with junk. Gave this a good cleaning. I've got a late-era inline filter closer to the carb that I'm going to swap out.
I've got some questions about the glass filter, though -- how does this thing work? I assumed it had to be filled with gas for the engine to start so I unplugged the distributor and cranked the starter for quite a while expecting the bowl to fill up. It never did but after reconnecting the distributor I was surprised that the engine started right up and after about 30 seconds the bowl slowly filled.
I think my next step will be a carb rebuild.