Did you put new points and condenser in the distributor? Bad points will cause your light to be erratic.
Sounds like your mechanical advance may not be working inside the distributor. This will cause the engine to hesitate when throttling up.
Check your timing at an idle not 2500rpms. Once you get the timing set then rev it up slowly and see if the timing advances using your timing light. If it doesn't advance then I would have a look inside the distributor to see if the mechanical advance weights are froze up. Common problem on the older tractors. Cars too!
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Today's Featured Article - A Lifetime of David Brown - by Samuel Kennedy. I was born in 1950 and reared on my family�s 100 acre farm. It was a fairly typical Northern Ireland farm where the main enterprise was dairying but some pigs, poultry and sheep were also kept. Potatoes were grown for sale and oats were grown to be used for cattle and horse feeding. Up to about 1958 the dairy cows were fed hay with some turnips and after that grass silage was the main winter feed. That same year was the last in which flax was grown on the farm. Flax provided the fibre which w
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