I suspect what you have found is the "condensor". This is really just an electrolytic capacitor. By the way, my truck runs fine without it, but I know I need to replace it very soon. It goes from the Coil + terminal to GND. I think these show up on '78 and up trucks (my '79 has one). Check your schematic, or look at the one in the Tech Links that Jason Peters has posted.
By the way, does anyone know what the value of this device is (in microfarads, not price)? Please don't guess, if you write "I think", I will ask you to justify your answer with the analysis of the RLC circuit. I can get parts, I just want to make sure I'm getting the right value.
The resistor would be hard to miss, it's a large white ceramic block. It's not absolutely necessary, but you will eventually burn your points out if you don't have it in the circuit. You can see if your truck runs if you tie the IGN feed directly to the coil + terminal (the starter solenoid sends full voltage to the coil for crank only). If it runs, disconnect it and go get the resistor (resist the temptation to run you truck like this - you'll be sorry). If you don't have a digital multimeter, now might be a good time to get one. There are lots of things that could give you trouble.
...I hope this helps