I have a bare bones, completely stock 66 with 194ci six, and three on the tree, sporting a whole 75,000 miles. If I open the throttle to fast it, "bogs down." The other night I was driving and the power disappeared completely, but because I was still in third at 45mph, the engine kept turning over, then I had a large tailpipe backfire, then everything returned to normal for the rest of the drive home. I have the one barrel carb, points distributor, and the external voltage regulator. A friend told me it was ingition related, but I don't know. Ignition or carb to rich from accelerator pump?
Any help would be appreciated.

It sounds like a good tune-up is in order, even though I am leaning toward the carb as the culprit. This is one of those that you simply set aside one Saturday afternoon and replace the points and plugs, and then pop the carb off and give it a good rebuild. Those little six bangers are very inexpensive and simple to maintain.