Damn that cap is crusty crispy fried and so are the plugs and rotor.I think I'm getting closer - question, try new cap and rotor or whole new distributor? It is still technically sending spark...
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I bet the plug wires are also bad.
Do a normal plug cap rotor wire tune up
Set the timing to 0 tdc
clean the battery cables and put a new fuel filter in.
Those parts are smoked.