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I have a 302 in my 49 F1. 1 wire GM type distributor with coil pac on cap. About 3 years old. In the past year I've had it fail to start, sometimes after it was shut off 5 min, sometimes 1 hour. Changed to a used ignition module magnetic pick up 2/2 pin and starts right up. Reinstalled original module runs for a long time. Then fails out of the blue. On time just snugged 2 screws holding it in there thinking it was losing the ground, started right up.Next failure I'm going to try to add dielectric grease to plate, prongs and screws. Any other thoughts?
I had a similar problem with the 302 in my '77 Granada. My mechanic changed out the ignition module on the fender and it worked fine after that. Funny because that is the same module that AMC used in many of their cars. Yep, had the same problem in two of my Spirits. Hint. Do not buy any of the Chinese modules. Spend the extra money and buy American!
What distributor are you using? Check manufacturers info, see if it has built in power surge/spike protection.........I have a Mallory Unilite that had similar problems as you describe, ended up installing a Mallory Circuit Guard between the coil to the distributor, after over a year now and running good. This might not be your problem but worth checking out.
GM HEI distributors use heat sink compound under the module. It's not dielectric grease, the body of the distributor is a heat sink for the module. The compound helps transfer the heat. Should be able to get some at a good parts store. https://www.autozone.com/miscellaneo...-sink-compound, just a example, not referring to any brand.