69,
I hope for your sake it is points/cond. A simple fix.
However, seeing the engine has 700 miles on it, I am wondering about the dreaded lobe/lifter failure scenario....
The carb has 700 miles on it, the distributor has about 300 miles on it.
The cam has about 6000 miles on it and the engine has about 40,000 on it since a rebuild.