Q: When you turn the ignition on and crank the car, the engine starts to run, but as soon as you relesase the ignition key back to start, the engines shuts off.
A: Either the resistor in the ignition circuit or if your engine uses a dual pickup (hall effect... this can produce the same symptoms.
Regardless you will need wiring schematics to diagnose and repair.
Q: It has low throttle response, kind of sluggish on takeoff.
A: There are two things this could be -
1. Vaccuum advance, or
2. Vaccuum advance
Very sensitive to this problem.... probably the diaphram in the vaccuum advance unit..... Ed
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