dgb100, My '71 did the same thing several years ago. The fuel gauge gets its input from the sender which is a variable resistor mounted in the tank. The sender has two wires; 1 goes to the instrument cluster and the other goes to a ground strap on the tail panel near the trailing edge of the tank. I bet that the gound wire broke or some corrosion built up on the connector. I cleaned that connector and mating surface real well and it works great.
As far as octane booster is concerned most are not worth a darn IMO, just a little pint of ethanol that might raise 10 gallons of gas by 0.1 point. Bite the bullet and pay the $5. They price the "per gallon" differential at 20 cents a gallon because they know that you can't buy 4 or 5 octane points per gallon any cheaper.
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