Generally, make sure your ignition is set correctly. The right point gap, dwell angle and timing. Everything must be in excellent condition, no "good enough" parts.

Then, set the choke so it closes when cold and pulls open slightly when started. Next, warm the engine up and the choke should open completely and the throttle should come off the fast idel cam.

After its warm and running, adjust the idle down and then turn your idle enrichment screws one at a time. Turn it in until you hear a miss and then out until it stumbles. Then turn it to about the center of the two extremes. Do both screws and then adjust idel down again. Redo the idel screws again and you should be good.

My local BP station has non-alcoholic 92 octane gas.

I redid the carb and lines with modern materials so it can run E10 but the Clipper runs terrible on it.

I replaced mine with a modern unit last year. In case you are interested.

https://packardinfo.com/xoops/html/modules/newbb/viewtopic.php?topic_id=9095&forum=4&post_id=97186#forumpost97186

I'll revisit this in spring when I get my car out of storage and I can do some measuring on the distributor. But I don't see where turning a new housing from a billet to fit whatever innards, cap or shaft and gear that you want to use would be cost prohibitive at all.

Define "costs too much" and "too much machining".

As the owner of a machine shop, I might be able to help.

Owen is very correct about the gasoline formulation of today being very much different than what was available then.

And this is a long read but well worth your time:

http://m.motherjones.com/environment/2013/01/lead-crime-link-gasoline

I think most people have the work done over a long period of time so it doesn't bite as hard.

Or, they do the work themselves.

Just a note. If the engine is stopped but you left the ignition on and the points are closed, that will burn the points real quick.

I have thread about pulling the motor from my 54 Clipper. The last entry would have been in June or July.

Really wasn't that hard.

The wiring diagrams are in the repair manual. You can download that from this site.

Your car was built as 6v so I'm guessing that it has been converted to 12v. Points will burn up at that voltage so somehow resistance needs to be added to the circuit.

There are a few ways that this has been accomplished by the different manufacturers. The easiest but ugliest it the ballast resistor. Next is the resistance wire. And third was a coil with the resistor built in.

Any way you do it, you are looking for 2 to 3 ohms.