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I am assuming here, (never a good thing to do) that the problem is with the 280 gasser, not the 300 Diesel (not entirely clear on your post, but I can be a bit dense at times admittedly, so don't feel bad).
My 2 cents, assuming it's the gasser, is it sounds alot like a secondary ignition breakdown, the proper course to diagnose this is get it on a scope when it's acting up. Thoughts would include improper sparkplugs, bad plug wires, bad cap or rotor, or coil.
Guys over on the vintage forum may have more ideas for you since this engine (the M110) is getting pretty old and alot of the guys over on Vintage discuss them quite a bit. Since it's grey-market, you may want to get the engine number and let them know what type of fuel system it has, I assume it's injected, make K-Jet, but suppose it could have carbs, that'd make a big difference.
Oh if it's injected, it could also be the warm-up compensator too I suppose, just another thought.
Gilly
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