The gap between the rotor and sensor in the distributor is called an air gap - I believe (this is from memory and I don't trust it) .012". If it is too wide it can cause problems under load and at high rpm. You check it with a brass feeler gauge.
haven't had much time to mess with it this week, only thing i did, is made a new ground for msd, that fixed my rev thing, so now i can free rev as high as i want, but the car still looses power after about 5k, i'm thinking the next step is to pull the bowls off the carb to find out what jets are in there
Get a fuel pressure gauge on it so you can read it while you go for a roadtest. Need to rule out fuel supply.
May be a silly question but have you made sure the throttle goes to wide open with the accelerator pedal?