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 - Tractor Profile: Farmall M - by Staff. H so that mountable implements were interchaneable. The Farmall M was most popular with large-acreage row-crop farmers. It was powered by either a high-compression gas engine or a distillate version with lower compression. Options included the Lift-All hydraulic system, a belt pulley, PTO, rubber tires, starter, lights and a swinging drawbar. It could be ordered in the high-crop, wide-front or tricycle configurations. The high-crop version was called a Model MV.
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