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A vacuum leak is one possibility.
A vacuum leak is one possibility.
The vacuum leak will cause the engine to run lean.
Look for vacuum leaks such as a cracked, disconected or broken vacuum line(s).
Any vacuum line connected to the plenum.
Yes. A cracked or disconnected vacuum hose allowing un-metered air to enter the system can cause a lean condition.
Severe Vacuum leak.
Car and distributor would have to be replaced
If it's misfiring AND running lean I'd suggest checking for a vacuum leak. Check the gasket between the manifold and the head, then check the EGR valve and make sure all of the vacuum lines are in good condition. Also verify that the power brake vacuum assist is in good condition and not leaking. A damaged power brake diaphragm can cause the engine to run quite lean.
A vacuum leak could cause that condition. Check all the vacuum lines under the hood for cracks, splits and disconnections.
It's a fairly simple procedure. The biggest thing you have to do is run a 10-12 gauge wire to the hot side of the coil in the distributor. The original small wire to your coil isn't heavy enough. Just make sure to wire to something that is hot only when the key is turned on. Other than that, run the vacuum advance of the HEI to a ported vacuum....not the manifold vacuum that the point style uses. Basically any vacuum port on the carb that is above the base plate.
Engine will run lean. It will idle rough, have less power, & use more fuel.