At the side of the road in the dark and pouring rain, most attempted repairs are unrealistic and dangerous. Even at the side of the road in daylight, it can be dangerous.
We had an MG owner killed in a lay-by when he was at the front of his car under the bonnet, and an oncoming car veered into the lay-by and hit the broken down car at speed.
So my view is that in the right circumstances, well off the road, in daylight and fair weather I would mess about a bit.
Otherwise I wouldn't risk my life attempting to fix any broken down car, even an old one with points and carbs!