When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.
Your shunt wire from the starter is not working, and you have an incorrect ballast resistor.
This is exactly right. No 12v during crank means it isn't going to start. The shunt comes from the "R" terminal on the starter and is only hot during cranking.
Ok, replaced the coil. Still getting the drop when I wire up the dist. The weird thing is that it makes the whole thing drop even when I read it ground to the manifold, too. Pull the wire off the coil and take the reading and I get the voltage back.
Did the 69 come with the big white ballast resistor or any other type of ballast resistor?
If so check your voltage across it.
I've seen those go bad.
Try disconnecting all the vehicles wiring to the starter, coil, distributor, alternator and every other component.
Run a new temporary starting circuit directly from your battery to an on/off switch, a push button ignition switch and the starter only.
See if it will start and run by removing everything else from the vehicles electrical system.
If it starts and runs, then you can start at your ignition switch forward and find your problem.
Just a thought!