Ah, ok that all makes sense. I went ahead and ordered a few things from rockauto since it was pretty cheap and can't hurt to replace it all. Basically the only thing I will have that isn't new in my ignition system will be the actual distributor itself and I spent around $55 shipped to me for it all.

When it gave out it backfired pretty loud one time and then just lost all power. The actual ignition coil was replaced at some point with an off brand "performance" style one. It looks to be pretty old also. The pickup coil that I was mentioning earlier was the original part, so it's nearing 40 years old.

If this doesn't fix it then the only other thing it could be is the actual distributor, I think...I'll have new plugs, wires, pickup coil, cap, rotor, and ignition coil. Beyond that I don't think there is anything else other than the distributor, correct me if I'm wrong though.