1965 Mustang, brand new 302 trying to start for the first time.
I had it running for about 30 seconds, then it backfired through carb and quit. Now it wants to start, but won't as soon as you let go of ignition switch. Looks good at #1 wire at TDC end of compression stroke. Firing order is correct. New spark plugs and wires. Thanks in advance.
still running points? resistor wire still in place ? or if running electronic, has resistor wire been removed? points require a resistor, most electronic ignitions require full 12 volts. distributor is not off a tooth? do you have voltage out of the ignition switch when in run position? what is voltage at coil?
If it were me, I would first check to make sure the damper ring hasn't slipped, so it's timed right. You know you were close when you sort-of-started it. Make sure the distributor itself wasn't loose, and 're-timed' itself.
Then, after double checking your timing ring and marks against TDC, verify timing. Once you've chased that down, check your point gap and make sure things are clean in there, and that the condenser's working. Easy test: you can turn on the ignition and open/close the points by loosening the dizzy hold-down clamp, and turning it a bit so the points open and close. If you pull the plug wire that the bug is pointing at (on the plug end) you can hold it near the block and see a nice big fat spark. You can maybe even avoid shocking the snot out of yourself. =)
All that being said, if it's making sparks, the wires are on the right plugs, and it's timed about 6-10 BTDC, you should have plenty of zap to light your fire. After that, you can chase down fuel issues and vacuum leaks.
Somebody mentioned a crank pulley "slipped". I had that happen once. Timing was WAY off.
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