In normal mode the timing is designed to fluctuate as much as 10 degrees in either plus or minus direction of initial timing at idle. Doing the procedures above stabilizes the timing so you can set/see it.
Thanks Fun Times. That's exactly what I experienced. Base timing with shunt is steady at 8?. Normal idle with no shunt is off the top of the scale -- maybe 12 or 15? and jumps around a little. The base @ 8? is evidently only during cranking 'cause even at 400 rpm I never saw it down there?
And yes Bruce, I initially replaced the points with a Pertronix module and their coil. It crapped out on me, maybe because I inadvertently had the key on without the motor running for too long -- eventually it wouldn't start...I put the points back in, then the Pertronix coil heated up so I decided I'd bite the bullet and just go with a complete EST distributor/coil setup.
And listen when they say don't bump the starter with the B+ on the jumper connected. I toasted a module that way and my mpg went from ~3 to less than 2 probably because my base timing was really somewhere near zero instead of 8. The houseboat cruises at about 1600 r's running about 6 mph. It will be interesting to see if now with everything correct if she'll get up on step and go. The book shows this 40 year old girl pulling skiers but as yet we've only had her above 10 mph a couple times.