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Alot of things on each individual motor factor into how to set your base timing, but a good place to start is 10* btdc. Set it with the advance unhooked, fully warmed up and at idle speed. Re-hook the advance up, and take it for a drive. If it feels better than before, depending on whether you retarded it or advanced it to get it to 10*, you can try more or less timing to get more power out of it. Don't go too far advanced, as power will suffer, and hot starts can be hard with alot of base timing.
i just put a new distributor in the same engine and truck and the best power and perormance was @10' there was no info in the service manual so u got to bugger with it and keep test driving it till u r satisfied
I have no idea where mine is but it seems to be just a bit advanced as the hard start thing shows up just barely, but i did it with a vacuum gauge and it seems to work very well.