the problem with old fords is that the design is just basic. there are 2 possibilities and 2 solutions mate first of all check the timing it sounds to advanced to me and this will cause your engine to run too hot, The distributers in old fords are known to lose thier position i.e slip now and again as the tightening bolts which are at the base of the distributer are not very good,
Once timing has been set this should be ok
Secondly check if your thermostat is working properly and it isnt stuck if! If need be you can fit a lower temperture release thermostat so that it opens to the rest of the radiator and circulates quicker hope this helps you mate
Ian mechanic
April 2009