The fuel pump was leaking out of the vent due to a bad diaphragm.
I replaced it with an unused one that the previous owner provided with the truck.
I assume it was NOS and not compatible to the ethanol laced gasoline of today, as a few weeks after install, it began to leak also.

Then whilst traveling along my merry way the fire went out and I coasted gently to the side of the road.
I suspected the leaking fuel pump, but had a full fuel filter and gas in the carb.
So, gas and cranking power, but I assumed no spark.
I do not know if the coil has been replaced with one of the infamous Chinese units, but I have my suspicions.

Between the two problems, and the fact that I never much cared for the Tornado engines, it has become time for a transplant.
I'm installing a 258 I-6 from a 1988 Jeep Wrangler mated to a Borg-Warner T19 4-speed from a Ford 7.3 Diesel pickup.
A T19 is very similar in appearance to the T18, but has a PTO port on either side and synchronized first gear(so I will lose the romantic whine of the straight cut first ).

I also plan to replace the current transfer case with an NP201 from a 1966 Dodge D200 Power Wagon.

Pictures to follow shortly.