Wasn't the ballast resistor after all....
I changed the ballast resistor and the same thing happened, the engine would die at high rpms. So I decided to go down and check the fuel lines and gas tank. I found that the previous owner used an old rubber air hose to connect the fuel lines and it had swollen up and clogged the line. So I cleaned that up and it ran like a top! No dying at high rpms!
Then I screwed up the points which led to the starter being screwed up. While I was adjusting the points and cranking the starter it went out. I took it out and the teeth were cracked as well as the motor being fried. The way I see it is that it would have went out eventually anyway, at least it wasn't on the highway this time. I'm getting it rebuilt and they promise a lifetime warranty on the rebuild. Why not?
I guess it's expected that one has to change everything when restoring a car that's that old.