What type dist? points or elec.
Do you have 12 volts at the ignition box, or coil? If the input volts are down so is the output.
Pull a plug wire, stick your finger in it. Have someone crank it over, if you piss yourself spark is good

Did you try starting fluid? What effect?
If it's popping up the intake I'm betting the timing is 180 out too or it's not getting the fuel you think it is. (not likely with 2x4's) Do you have a vac gauge? If so what's it reading while you crank?
Oh, and don't forget it's not air, fuel, spark bang.
It's air, fuel, compression, spark, bang

Days like yours is why Ford put the dist. up front, easier to trouble shoot

Good luck, and yea, it could happen to a ford..... just not likely
