weird cutting out problem

I'm putting all my money that it's ignition. Vapor lock = out of fuel. When ignition boxes start going south, many times this is exactly the symptoms. Me too....I'd toss in a points distributor (or plug in an extra ignition box from a donor car) just to see what happens.

BTW, am I wrong when I say the ignition box should be getting a straight 12v feed, not ballast resistor voltage?