Yea, guys I was going to say there is no way this is his 78 350. That's a tip in switch for the ESC, no doubt about it, but if Chris wants to post any part numbers he can see on that I'll look them up in my reference book to verify.
TIP in switch is for the ESC and is located on the passenger side near the transmission dipstick on every ESC rig I've seen. As I understand primary function is for when the driver punches the throttle, the tip in switch sends a signal to the ESC module to slow the advance curve. As the petal is held to the floor the module will turn up the advance until the knock sensor detects knock and holds the timing just below that. Hence it tips the timing advance in. So if his truck still has a functioning ESC system it is important that it be hooked up. If it's been converted to conventional HEI then it doesn't perform any functions anymore.
Lockup converter vacuum switch is not the same as the tip and switch and is not the same part#, but does look similar, but is located on the driver side near the brake master cylinder.