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The generator was not rebuilt, but has been out of the car for a long time. I didn't realize that after sitting it could loose polarity. Well, I hope I just need to polarize it. My oil pressure indicator lamp went out while cranking the motor, but the charge indicator lamp was on with the engine running. I'll double check the wiring for the voltage regulator and generator.

I'll bet you got a real buzz when that engine ran! Sounds good.

Feeling happy again! I polarized the generator yesterday evening. Now, with the engine running the charge lamp is off, and I was running at 13 something volts at the battery. That is good news.
My clutch pedal was not coming back up off the floor, so I loosened the helper spring that goes back to the frame rail, and adjsuted/tightened the free play where the clutch mechanism attaches to the clutch fork, and now my clutch behaves like it should.
Adjusted the timing, opened up the choke and leaned the idle mixture screws a 1/4 turn or so, and the engine is running quite well. Shop time is few and far between, but I am glad I had a productive evening on the packard.

Congratulations. Glad to hear you're making progress.

Euro Packard meet is in switzerland in may of next Year. That would be something to shoot for, but I am a little reluctant to give myself a deadline.

Go for it Mike, I know at least one Aussie(not me) who's looking to go to the Euro Packard meet next year.

http://www.packardclub.ch/resources/Packardmeeting2015.pdf

The good news is that the engine is running well. At idle of 600rpm I set timing to 6 deg, then connected the vac advance and it came up to 9 deg. The bad news: The clutch has got a problem. I can't get the clutch to dis-engage. I took off the bellhousing cover and put back the clutch release mechanism (with spacers on the two bolts that hold the clutch release mech to bellhousing) so I could see what is going on.
The pressure plate moves back about 3/32 to 1/8 of an inch with the clutch pedal depressed, but the disk keeps spinning. I can't put in a gear when the engine is running. I also tried putting in a gear with the engine off, depressing the clutch and rocking the car back and forth by hand. Something is locked up. Either the clutch disk is hanging or trans input to pilot bearing/bushing?
I had lubricated the splines between the clutch plate and trans input. Any ideas before I pull the trans back out. Argh.
When I installed everything, I used a pilot shaft to center the clutch. I don't remember any problems installing the trans...Here are pics of clutch open and closed. I will post a video later on.
-Mike

clutch closed

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clutch pressure plate open

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Your clutch disc has adhered to the flywheel from sitting. Just block the clutch pedal down and carefully slide a putty knife between the two and you will be fine. Slip the clutch a little bit after you get it going to polish up the surface.