My A/C system on my 73 has the same issue. Turned out to be a bad O-ring. Look at your connections - if there is black oily residue on the line at the connection that's the first place to check. I took mine into a local shop that still works with R-12. We pumped it down (at least what was left - not much) found the leak, pressure checked it, refilled it and ended up with 38 F coming out of the side vents. As the senior mechanic said, "there's no comparison if the system is operating correctly between R-12 and R-134"
That being said, sometimes it can be tough to find R-12 at reasonable prices, but the tougher part is finding someone with good operational R-12 equipment, experience and willingness to do the work. You can't mix the two so equipment has to be dedicated to the type of refrigerant. I found it interesting that I was the first person in 3 years to utilize this guy's equipment. Most have switched over to R-134. He was disappointed that he had purchased a supply of R-12 about 15 years ago along with the equipment figuring a lot of the classics would need maintenance now and then. He almost never uses it.