Hey y'all long time no post.

I just crawled out of a deep dark rabbit hole with the 48 pontiac Silver Streak.
Reader's Digest version:

Pickup (reluctor?) In the dizzy went flaky, misdiagnosed as bad module.
In the troubleshooting process blew the holley power valve with a backfire.
Now troubleshooting two problems.

Moral of the story:

New distributor
New carburetor
New brake booster(vacuum leak)
New fan clutch(locked up)
New power steering pump and pulley (only the pulley needed replaced)
New fittings and braided steel lines on the power steering. (Wrong fittings to begin with)

New parts on kitchen table: steel fuel lines (who thought plastic lines would be good enough? )
Fuel pump, header gaskets.

Probably should have started the fuel line replace today, but I was troubleshooting little sister's 76 VW bus. It's now running with a relay added to give direct battery voltage to coil, but new coil, wires, plugs, cap and rotor are on order. It was converted to carburetor from fuel injection, and the genius decided the coil was a perfect place to source the electric fuel pump. Or was that factory genius? Anyway it's running now and will run better when the new parts arrive and get installed.

Happy new year!