OK, it looks like somebody has already changed your white cloth covered wire to a pink HEI power wire same as I did in this thread:
http://67-72chevytrucks.com/vboard/s...d.php?t=708975
Use that pink wire.
Good picture, sorry about the confusion. You no longer have the 20W/OR/PPL wire that would normally fade until it becomes a white cloth covered wire like mine did. It was a resistor wire that powered the old points distributor. That newer pink wire is not a resistor wire, and provides the full 12V power to the HEI distributor.