Always Hesitant To Offer Suggestions, Usually A Big Waste Of Time, As No One Listens, Only Argue And Disagree. The Guys On This Forum Have Stepped Up And Done A Good Job With Suggestions Pertaining To Your Problem. No One, However, Has Suggested Checking The Running And Cranking Voltage Supplied To The Ignition Coil/Pertronix. Im Sure The Response Will Be "Its 110 % Perfect, New Wiring, Not Related,Etc" But Its A Whole Lot Easier To Check The Basics Than Tear The Front Or Heads Off Your Engine. For Arguments Sake, Lets Assume Its Pretty Much Original Wiring Harness And Wiring To The Coil. I Believe You Mentioned That It Is A Galaxie, Meaning It Has At Least 60 Year Old Resistor Wiring In The Ignition Circut, And The Ignition Switch Has Probably Been Turned On And Off More Than A Few Times. Pretty Good Chance That It Is NOT Getting The Proper, Or Consistant Voltage Through The Ancient Switch And Resistor Wire. I Will NOT Get Into The Discussion On How Many Volts A Pertronix Requires To Operate Efficiently, But, It Should Be Easy To Get Out The Volt Meter And See What Is Supplied At The Coil. (Engine Off, Cranking, And Running) Do An OHM Test Between The Distributor Housing And Engine Block While You Have The Meter Out. Pertronix Picks Up Its Ground Through The Distributor Housing (Make SURE The Small Ground Strap In The Distributor That Connects The Former Breaker Plate To The Mounting Screw Is Present) It Not Unheard Of For There To Be A High Degree Of Resistance (Poor Ground) Between The Distributor Housing And Block) Hot Wireing The Coil Will Also Be A Quick Way To Determine If Ignition Voltage Is A Possible Culpret. While Pertronix Is A Decent, And Relatively Trouble Free Ignition Setup, They Have Been known To Have Issues Like You Described And are Experiencing. They Will Start And Run, But Not Run Well, And Fire The Coil At Less Than Optimum Timing. They Are Like Any Other Part, They Can And Do Fail. It Was Suggested To Switch To Points To Trouble Shoot The Issue. ALways A Good Idea To Carry A Set And A Condensor In The Glovebox) Why Not Order A New Pertronix Unit, And, After Verifying Proper Voltage At The Coil, Install It And See How It Runs. Worse Case Is You Would Have A Spare Unit To Carry In The Glovebox. Easier Than Changing And Setting Up Points In 90 Degree Heat or Pouring Rain. People Always Comment On How Much Better And Smoother Their Engine Runs After Installing A Pertronix,And, They Usually Do. Who Is To Say A Bad Or Defective One Cant Make It Run Worse? (Trust Me, They CAN)
You Also Could Have Got A Bad Tank Of Gas, Which Is Not Out Of The Ordinary These Days. Just Another Possibility/Suggestion To Check. Also, Please Give Some Consideration To The Suggestions Above About Low Cranking Compression. It Sounds Like It Is A LOT Lower Than One Would Expect. Possibly When The Engine Was Built, A 71 And Newer Timing Set Was Used ( A Set With The Built In Emission/ Retarded Lower Gear.) Those Are Usually Identified By The Timing Mark/Dot And The Key Way Slot Not Being 100% Lined Up) It Is A Small, But Noticable Difference, That Has A BIG Impact On Performance, Fuel Economy, Etc. Makes A Gelding Out Of A Stallion. Use Of The Later Style/Emission Timing Set Results In Lower Than Optimal Compression Numbers. If They Were All Pretty Much The Same, When You Did The Compression Test, Then You Were Most Likely Doing The Test Correctly. On The Very Possible Chance That The Emission Timing Set Found Its Way Into Your Engine, Then Its Discovery May Be The Silver Lining To The Current Issue That You May Not Have Recognized, And You Can Change It Out Sometime, Or The Next Time The Engine Is Apart. It WOULD Be/Is Worth Your Time To Correct. JMHO