With the key on and the lights on the dash illuminated, you say there is no voltage at coil+? If so, you will need to check if there is voltage comming out to that wire on ignition switch. No voltage at coil + means your resistor wire is bad or ignition switch is bad. If you were getting voltage you would need to check further forward, but since you are not, the problem is before the coil.

Here is a wiring diagram:

All I wanted you to do was test coil+ with key on. If you have voltage there you can test coil negative while cranking but if you have no voltage at coil+ with key on, you have to find where the voltage is lost & found. I'll be on line about 11am tomorrow to help you some more if needed.

I'll be online off and on all day today. I believe your problem is the resistor wire comming from the ignition switch. That's what happened with my 64 1/2 mustang. You can verify the problem by running a wire direct from the battery positive to the coil+ and starting the car. You will have to disconnect the wire to turn the engine off. You cannot leave the wire connected for any given length of time as it will burn up your new points unless you use a ballast resistor between the connection.

Ok, let me know.

Remove the cap & rotor with plug wires attached and hand crank engine or bump starter until the points open and set with rubbing block at highest point of distributor cam so points are open fully. If you haven't yet already done so, lubricate the distributor cam lobe with dist. cam lubricant. Slightly loosen hold down screw so you can move the points to the .016-.018 setting with feeler gauge. Make sure feeler gauges are squeaky clean with no oil residue on them. You may also want to use a piece of paper towel or sand paper to rub between points. Cleanliness is very important. After years of wear, not all dist cam lobes are equal due to lack of lubrication and this will affect your dwell. After setting gap, tighten hold down screw just enough where points no longer can be moved, (I am assuming you have already attached the wire to the end of the points comming from coil - to distributor) then replace rotor and cap and you're done. A quick check with a dwell meter connected to coil - should show 28-30 degrees dwell while cranking for best setting. Make sure your plug wires are installed in the correct firing order. If you get a dwell reading you will have spark at the plugs whether or not you have the correct firing order. If you don't get spark at the plugs at this point, you have a defective coil, coil wire, cap or rotor. After setting points you will have to set your timing since any point gap change will change your timing setting. You can actually test your coil output by having key on with points closed, coil wire disconnected from cap and held close to ground surface, open points with screwdriver and spark should jump.

The book calls for .017 gap for points but I set mine at .016 for more dwell. This increases saturation time for the magnetic field to build up before it collapses which results in a hotter spark. The gap is not as important as the actual dwell reading when finished. As long as your dwell is within specs, you are good to go. For specification references, see this link:

http://www.carmemories.com/cgi-bin/viewexperience.cgi?experience_id=232

If you want the maximum performance out of your engine, set your timing at 10 degrees BTDC. From my experience, this is the maximum you can go without pinging.

Book point gap is .017-.021.

The most precise and easiest way to set your points would be to connect a dwell meter, red lead to coil - and black lead to battery ground. Loosen hold down screw and with key on, crank engine with remote starter while watching dwell reading and moving the points open or closed with screwdriver until obtaining the desired dwell, then locking it down. See: http://www.ehow.com/how_8383180_hook-up-tach-dwell-meter.html

Dwell is the most important and is what you are trying to accomplish by setting the point gap. More dwell means hotter spark but must be within specs. I have found that 30 degrees dwell is the best setting for any V8 engine with single points distributor.

Did you set your timing when you were done? Set your timing at 6 degrees BTDC. Set timing with vacuum hose to distributor disconnected & pluged Then adjust your carburetor. First make sure your choke is set at 1/16 opening when stone cold first starting up. Make sure choke is wide open when at operating temperature. Then adjust your idle mixture screws to highest & best rpm after warm up. It would be best to use a vacuum gauge connected to intake manifold vacuum and adjust mixture screws to highest & best vacuum, then set your idle, & recheck timing. Does your engine miss?ASEMaster35yrs40992.0622236921

Loosen the distributor hold down bolt with 1/2' wrench and turn distributor clockwise to advance or counterclockwise to retard timing. You will need a timing light connected to the front passenger side spark plug wire which is number 1 in your firing order. Point the timing light to flash at the timing marks on front dampner at idle.ASEMaster35yrs40992.1264993056

First of all, you don't take the cap off. The bolt that you loosen is outside the distributor on the bottom where it is held down by a piece of steel with a hole in it that the bolt goes through. You can follow the #1 plug wire from the spark plug back to the cap if your using the position on the cap, but you can also connect between the end of the plug wire to # XXXXX spark plug.

This is your firing order.

By watching the mark on the dampner as you turn the distributor until you see the 6 degree XXXXX XXXXXne up to the pointer. Each line is 2 degrees so it should be on the third line before TDC.

You can see the bolt that holds the distributor in this photo.

Your distributor has a counterclockwise rotation so your firing order will start at #1 going counterclockwise. If you turn your distributor clockwise, your timing will advance. If you turn the distributor counterclockwise, it will retard the timing.

Here is a picture of a 1973 mustang 302 "F" engine where you can see the hold down bracket & bolt that holds distributor.

Do you know how to use a timing light? here is a picture.

you attach the red lead to battery positive and black lead to battery negative, then put the purple lead to surround the #1 spark plug wire where that black hole is then pull the trigger button on the timing light while pointing to the engine dampner timing marks. Turn distributor by hand until the pointer above dampner lines up with the third line mark before TDC and lock down distributor bolt.

You can get a timing light at any parts store but here is a link.

http://www.buy.com/retail/product.asp?sku=213511599&listingid=97726875

Are you still with me? Where did you hear the rattling noise? This could mean your timing is too far advanced if it happens when cold or it could mean you have a problem with your EGR valve if it's only when hot. You need to check your timing to be sure.