Colin, did you just fit the PerTronix unit? I put one in my Spitfire yesterday, and I found that it was advanced about 20° more than the failed Allison ignition was. I could barely get my car to start, and the timing light couldn't find the mark way out past the end of the crankshaft scale thingy in the brief moments I could hop out to get to the timing light before the engine died. Once I gave my distributor a mighty twist, it was much easier to start, and it kept running, and I could see my little pulley marks to get it properly timed.
If you've had the PerTronix ignition all along, and you've still got spark and fuel, then some other variable has changed. Do you have a big new vacuum leak? Is your engine still making compression? Is your timing changed? (Uh, yeah, I once forgot to tighten the distributor's hold-down bolt, and I wondered why my performance went to pot over the course of an hour's drive.)
Scott