Hi all. Thanks for all the previous comments and help.
During our week of lousy weather, I rerouted the MSD lines to splitting them as suggested by Bob P, and I cleaned up and resnugged the plugs.
BTW - Does anyone know the torque setting for the plugs?
I do think they were quite loose originally - as suggested by Art this could have been part of the cause for the deposits on the plugs. I also bought new wires from Southern Automotive, but, the ends don't fit my distributor, so I couldn't install them.
Today I took ERA601 out again (finally in the sunshine!

). Bear in mind I have about 20 miles of Cobra experience under my belt.
The car is quite happy to burble around at low rpm's, but, I dunno - the car just doesn't have the
snap I would expect when you punch it - - it works its way up to the redline alright, but, it just seems to come on kinda slow at first...and then really pins you back (almost feeling dangerously like a stuck accelerator when I let off

- which I can't seem to find). Maybe my expectations are too high... maybe that's just the way they are...I have no real baseline...in conclusion, imho, it just doesn't feel....right.
My thoughts now are: it is definitely not the MSD chip - I ran it up to 5900 once, and it started to cut out and miss
real bad - this is distinctly different to what I described earlier. I think the MSD cutoff is working real well.
This now leads me to conclude I am not dealing with a
miss at lower rpm's, but rather a bog or stutter - I am now thinking timing or carb jetting. I will double check the timing specs and see where I am. I know I shoulda done this earlier, but I am working through 1 variable at a time.

. Comments, as always, appreciated.