Alright guys, thanks for your suggestions. I've discovered it's the coil after doing a volts and resistance check. It's putting out 4 volts, and no resistance from either side post to the center, where the wire goes to the distributor.

 

Yep, that's bad.

 

well considering ethanol evaporates at 172*F and the engine usually runs at 195*F. it is a pretty common issue with carbs with smaller float bowls to have the fuel evaporate which is why some people recommend spaces for carbs like edelbrock. i never had issues with holley but float bowls on them are pretty big. i do usually run enthanol free fuel in all my carbed vehicles. costs a bit more but worth in in my opinion. i used to be able to leave my truck at work for 10 hours and be able to turn the key and have it start like i just left it.

are you sure your checking it right? i would assume if it is at least running when cold it should still get good when cold. did you disconnect it before testing? i would say if it was bad no voltage at all would be going through it.