Could be the shaft bearings. Take the cap off and give the rotor arm a wiggle, any movement? I've known them get son worn that they start hitting the cap, and still run.
Has anyone had the same problem, its like a whine when it warms up, up and down with revs from the back of the engine, probably the distributor. I gave the shaft a wobble and there was a small amount of play when cold.
There are several companies out there who recondition dizzys. Before you spend your money it's worth swapping it over for a known good one to confirm the fault
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