Finally got around to having Son-in-law move the distributor while I ran the timing light, then we checked the compression in all the cylinders.
For timing, use the bolted-on plate to the right of the pulley, or to the left of the pulley as you are standing in front looking down at the crankshaft pulley. I timed mine at 10-degrees BTDC, and when we plugged the whatchacallit plug back into the distributor line, timing went directly to 0-degrees btdc. Now, I may move it a tad more, as it seems to me that zero advance might be a bit slow when you get your rpm's up, and the fire might not get to the cylinders in time to make power as the cylinder starts it's trip back down the cylinder. But it lugs quite well uphill at moderate rpm's in higher gears (5-speed) which is what I wanted to accomplish.
For compression, from front to rear, two tests for each cylinder, we got readings of 168psi give-or-take three psi. Lowest was 165, highest was 170, but if you took the average of each cylinder they were within three psi of each other.
Not bad, for rescuing this inline-six from a farmer's chicken coop. I do have some little things to work on before it goes to the desert, though. Today we took it out to the gravel pit, put it in 4wd-low, and idled it up until it almost turned over backwards. Can't complain there!
Be glad to get it finished and take it out to the gold digs, it's too much trouble hiking in.