Could use some diagnostics help

I moved onto the distributor. It's a recurved factory unit. 

First test of the vacuum advance...........fail. Will not hold a vacuum.

This was a "new" distributor that was recurved and certainly appears to be so. When I removed the vacuum advance the exposed portion of the diaphragm is soft and pliable.  

Here's the scary part. Just for curiosities sake I inserted a 3/32" Allen wrench in it and there was nothing for it to adjust in there. I never messed with it previously because I read it was the last thing to adjust if it was even needed. That said, if they are all adjustable, I may have found the cause of the sudden misfire and its fuel related. Or it was never in there to begin with or this on isn't adjustable (?). 

What if this adjustor backed out and got sucked into the carb through the vacuum line? Anyone know if it possible to be trapped in the carb? If it made it into the engine it doesn't appear to have affected the compression any. 

ugh          

not all dizzy vac cans are adjustable,

but as long as it's you might as well open it up and see if anythings missing

trying a GM module swap seems like a valid test?

remember they need a heat sink and the special white grease,

some guys have used the Duraspark case to keep it looking original

Went out this morning and went digging around with different allen wrenches. Found it where it's supposed to be with a #3 metric. Still doesn't hold a vacuum. 

Innards get heat sensitive and only work when cool, or the potting melts and they get vibration sensitive.

Mine, the back of the inner fender rusted out behind it and it would stop working if wet...

Mine starts and runs it just developed a misfire I haven't sorted yet. 

Here is a test chart for the 1976 Electronic Ignition.  I'd run these tests and report back.

To date:

Pulled the plugs, checked gaps, and condition.

   .044 and reddish. Ran fine before. I'll try going back to .035 as Rock suggested.

Swapped out the distributor cap.

Checked primary and secondary resistance of coil.

Checked voltage at coil key on and running.

Checked resistance of plug wires

     All under 50 ohms per foot

Checked vacuum.

     Steady 15hg but did need 1/2 turn out to steady it.

Checked compression.

     All between 174 and 179 psi

Replaced defective vacuum advance.

     Just because it was found

Checked for manifold / carb vacuum leak with starting fluid.

     Nothing

Could very well be the carb or the module but I'm almost certain it's a motocraft. I personally have never seen a module cause a misfire but one of my favorite sayings is "Don't tell me what it isn't until you can tell me what it is".

It's all "new".  That said the vacuum advance diaphragm was torn anyway.

Checking spark plug resistance now. First 4 are between 5000 - 5100 ohm. Barring operational error I've just about cleared the ignition system.

I was looking over those sheets you posted and did another test. I'd like to start the car again but it's almost 11pm.

Battery down to 12.28V

Module bias - red 11.76

Voltage - green 12.17

The key on power supply is an unused plug I believe for A/C in cars that have it. I used it for the choke and the module since it didn't involve cutting and splicing. It currently test at 12.24V

Until I can start it again I'm going the bypass the key on power supply of the factory harness and go to the battery. Maybe there is too much of a drop there.

Edit: I did the bypass and it eliminates any meaning full voltage drop. All but matches battery voltage. Not what I was hoping for. It appears I'm going to have to irrevocably tap the harness somewhere.