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I bought the truck about 1 year ago and never checked the timing. The distributor has not been touched. I do know that the previous owner had a "rv" cam put in the truck a couple of years ago.. I didn't think the truck would run with the distributor 180 degrees out. would it? Truck has great power.
If the light is off and it's got a shake to it, the balancer ring has slipped. Pretty common thing for those year model Fords. Have a friend with a 94 GT Stang that had one slip.