Interesting. Thats the kind of experience I love about forums, thank you.
I've been into the ignition and rebuilt it all, so the probability of the spring being setup incorrectly is pretty high. I'll know for sure when I get the Pertronix points eliminator in.
Nailhead: my thinking is that the spring not applying enough tension would contribute to a weak spark, which the engine would run ok with no load, add significant load and the engine wont run as well on the weak spark. Add higher RPM and I'd bet the spring would "float" like valve springs if there was inadequate tension.
Parts should be in today, I'll let you know how it goes.