A simple test would be a partial choke when it begins to quit. If there is improvement, even for a few seconds, that is a good indication there is a fuel problem.
What you describe could also be weak spark. If the partial choke has no effect, look at the spark quality at each plug. Best to catch it when it is giving problems, carefully pull each plug wire, one at a time off the plug. The spark should be able to jump 1/4" minimum. Recheck the point gap, try a different condenser. The new ignition parts are not the quality they used to be, common for them to be bad out of the box.
If the partial choke helped, look into the fuel system. Be sure the gas cap is vented. Check the screen above the sediment bowl, be sure it is clean and in place. While the bowl is off, open the fuel valve, see what kind of flow you get. Should be a good stream, not a drip. If there is an inline filter, that can be a source of a problem. They don't work well with gravity flow systems. The fuel line should be steel, not copper, routed as directly down to the carb as possible, no extra length, loops, kinks. Also needs to be away from the exhaust as far as practical.
On the bottom of the carb is a drain plug. With the fuel valve open, remove the plug and catch the flow in a clean glass. It should start as a full flow, slow to a trickle as the bowl empties, and continue to trickle. If it slows to a drip, or stops, there is a restriction or a problem with the needle/seat/float valve. Look at what is in the glass. If contaminated with water, rust, dirt, that will also be in the carb. The tank may need to be removed and dumped, rinsed out.
If you suspect the carb is contaminated, or needs attention, take it off, ease it apart. It is simple, probably won't need a kit if you are careful with the gasket. Clean every passage, set the float level, it will probably be OK.
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Today's Featured Article - Talk of the Town: The Saga of Grandpa's Tractor - by The following saga is from the Tractor Talk Discussion Forum. Someone. The saga starts with the following message: Hey guys I have a decision to make. I know what you all will probably suggest and it will probably agree with me way down inside, but here it is. I have a picture blown up and framed in my "tractor room" of a Farmall M. It was my Grandpa's tractor, of which whom I never got to meet. He froze to death getting this tractor out of the barn to pull a truck out of the ditch before I was born. Anyway my dad and aunt had to sell it at the auction,
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