If she's not being cold natured and if she spins real fast when starting warm and if she loses power under load you most likely have low compression. Back in the day (we ran 656 and 706 gassers) rings and valves about every three years. The loss of power by percentage is near linear to the percentage of low compression. If that ain't right it will never lug properly. Like vet said adjust the valves, time it, major tune up (plugs, points, condenser, cap) before you tear it down.
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Today's Featured Article - A Cautionary Tale - by Ian Minshull. In the early 1950s my father bought an Allis Chalmers B and I used it for all the row crop work with the mangolds and potatoes, rolling and the haymaking on our farm. The farm and the Allis were sold and I have spent a lifetime working on farms throughout the country. I promised myself that one day I would own an Allis. That time event
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