Mallory recommends a certain coil., a ballast resistor, & an active power filter.
(do you know if you have those..?) (Is this dizzy in good shape..?)
This being an electronic/pointless ignition, it's likely the plug gap should be wider.
They come in mechanical & vacuum advance. Yours is...??
However, the ignition isn't much help if the timing chain is shot., or the timing is
just way off.
(More info = better answers...

/ )
You see the info to the left & below my post...? It all helps.
I would suggest you contact Mallory for your set-up info & plug gap.
Summit Racing can help also, as they sell Mallory.
Let us know what you find..., It could help others.
B