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I have a '79 4x4 with 351M and have a problem with engine hesitating.
It runs real well except when you press on the gas to accellerate. There is a hesitation and then it picks up and runs good again. It starts, idles good and has good power after you accellerate; but, you step on the gas and it's like it wants to die and then takes off.
Would this be a problem with a blown power valve in the carb? Or other carb problem?
I'd point to the accelerator pump on the carb. Is this the stock 2 barrel? What you can do is pull off the air cleaner while the truck is shut off, pull the choke open if it's shut, peak down and open the throttle. You should see two nice, smooth streams of fuel shoot onto the venturis.
Check the vacuum advance canister on the dist. If it is bad it will act just like the accelerater pump is bad. You can check it by putting a hose on it and suck on the hose. Should not be able to draw air through the hose. The canister on a ford is bad about this.