Yes, it's probably running poorly just from coolant in the cap. Since the distributor is laying on it's side, solid coolant rests at the bottom when shut down and tends to spray when it's running. If the disc gets saturated it will delaminate. The pickup portion should be OK. I think MSD makes a replacement distributor for 5 or 6 bills. Get the pump off, look at the disc real good. I think I would replace the cap and rotor if they look any kind of old. It's not that bad of a job, in a Vette it's a little more miserable.