Hiya,
You may have more problems than you think. Those compression figures are really low, for a '69 350 they should be 160psi, with the 400 coming in at 170psi. According to Chilton, ignition timing should be set at TDC, with points dwell at 30', points gap at .016", and plug gap at .030". To be honest tho', with only 65psi, I think your ignition timing is the least of your engines problems,
Best of luck
Malc
Bookmarks