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We put a Pertronix electronic ignition in my 64 today. I was skeptical that it could make much of a difference on how it ran. When we were done I hit the key and it started easier than normal. I hit the pedal and it seemed to me to be quite a bit crisper on throttle response. I looked at the volt meter and it was at about 13 to 13.5 volts which I had never seen above 12 volts with the points at idle. Does a points system draw more voltage than electronic? It also idles faster now than it did with points, and I will need to turn the idle down. Has anyone else done this conversion with the same results I am seeing? Or am I just all wet? So far I am pleased but could not drive the truck as it is way to sloppy out.
Sounds about like everyone's experience. Time flies when having fun, been using the same Ignitor since '95, stock generator charging system. They sell a lot of them I bet. Sometime when really bored, may reinstall points and condenser just to see how that works again, tho this time with a good distributor and make a comparison the other way. Y blocks aren't as convenient to set points. You should see a smoother idle, maybe reset timing and then idle mixture.
You'll pick up some, low RPM high loading will expose a weak ignition system. But your truck should have plenty of power with a point system. At least, as much as a 292 will provide, anyway.
The higher idle speed probably accounts for the higher voltage output. You also need to check and adjust the initial timing. It could be slightly advanced since swapping components and that increases idle speed.
My experience from Pertronix was a lighter wallet with no other changes. When I swapped mine, it was into a recently rebuilt distributor, so it was not 50+ years old, loose and worn out. I think the electronic pickup is more forgiving and masks other issues, which is why there is a perceived increase in performance in many cases - a rebuilt points distributor should have the same effect and cost a little less. Advancing the ignition can also provide a noticeable boost, so until you've checked that, you don't know if it is due to the swap or simply because it has become advanced.