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The rat, she lives!
With everything in place and ready to go, the ballast resistor was giving off waves of heat. Not good. Turned out to be a bad coil. I dug into Zippy’s parts bin and grabbed another one.
With just a bit of choke, she fired right up! Once it warmed up, I set the dwell and timing. A quick compression check showed fairly even results:
The carbs I rebuilt earlier were not happy though. They leaked the ATF from the dampers through the bottom and one of the pistons jammed open.