"Ohm" the high-tension wires, starting with the coil wire.
Just because they have been replaced a while ago doesn't rule out a "bad" wire or two.
Or, better yet, replace them with a high-quality set of spiral wound/magnetic core wires.
You always brag about how you keep your vehicles inside, is the building you store the truck in DRY and well-ventilated, those 4.3 ignition systems are particularly sensitive to moisture.
And, as the other poster said, have the timing offset checked and corrected to zero.
The more it's off the farther the sparks have to "jump" from the tip of the rotor to the individual high-tension towers.
Sparks create ozone, which combined with moisture tears up the aluminum terminals inside the cap creating a white oxide that gets spun around the inside of the cap, eventually combined with any moisture causing a breakdown of the cap insulation that causes a misfire or shorts the spark out altogether.
If you dig around on GOOGLE you'll find that ventilation of the distributor has been an issue over the years, and changed over time by the OEM or "modded" by owners.
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Today's Featured Article - Earthmaster Project Progress Just a little update on my Earthmaster......it's back from the dead! I pulled the head, and soaked the stuck valves with mystery oil overnight, re-installed the head, and bingo, the compression returned. But alas, my carb foiled me again, it would fire a second then flood out. After numerous dead ends for a replacement carb, I went to work fixing mine.I soldered new floats on the float arm, they came from an old motorcycle carb, replaced the packing on the throttle shaft with o-rings, cut new ga
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