UPDATE
Okay, first, thanks to all that chimed in with suggestions. Huge help!
I'm noticing that this board has a whole lotta questions and not a lot of answers.
Anyway, changed the fuel filter, plugs, wires, rotor and cap so far. The cap and wires looked pretty bad. The cap looked as if someone threw it out the window at 70 mph! It may have had a hairline in it as well.
After that, I could tell it was zippier, but still starts missing as the engine winds up around 3k.
I inspected the centrifugal advance mechanism in the distributor... seems to move freely as it should.
Then I pulled the vacuum hose from the vacuum advance and put a gauge on it and gave it some revs.... gauge shows good healthy vacuum on that line. BUT, never noticed any movement on the advance. Then I put a hose on there and blew into it... it went right thru it! Could hear it just fine... the diaphragm in the advance is toast!
Well then... that makes sense... not only is the vacuum advance not operating.. I also have a vacuum leak since it's diaphragm is ruptured!
If nothing else, at least all of this is starting to make some sense! I was beginning to get annoyed with trying to trouble shoot this!
So, question for those that have played with this before: Is it possible to change the vacuum advance without removing the distributor? Or will it be necessary to pull it out?