Hi kevin_tx21. Welcome to the forum. The spitting fuel out of the carb is a big clue to a jumped timing chain. I'd check that first. It will cause low compression readings on all cylinders. You can also try running a timing light to see if it is severely retarded. It's unusual for the engine to suddenly stop running due to the timing chain. Usually it will lose power and be hard, (not impossible) to start. Another quick check is to put the vibration damper timing mark at TDC and look at the rotor to see if it is pointing to cylinder number 1 or 6.
It is somewhat common for the wires to break off the pickup coil and cause intermittent no-start or stalling and cutting out when the plate turns for the vacuum advance, but since you already measured it and since you have spark, we can rule him out.
You can also turn the vibration damper back and forth by hand to see how far you have to go before the rotor starts to turn. Anything over a few degrees indicates a stretched chain, but besides that, given the relatively low miles on the engine, I suspect the timing chain and gears are original. The original cam gear likely has nylon teeth on it that have worn or broken off causing the chain to jump even though it might not be loose. You might find evidence of broken teeth if you drain the oil and shine a light in the drain hole or use a coat hanger to poke around in there.
Tuesday, August 31st, 2010 AT 2:13 AM