Hi all -

I recently acquired a FJ40 with a Goodwrench 350 in it. I don't have much knowledge about carburetor, HEI engines but happy to learn. The engine looks to be all stock.It starts and runs but not smoothly. After replacing the basics (plugs, wires, etc) I decided to go back to initial timing to make sure all of that was correct.
I removed the #1 plug and manually turned the engine over. The tissue in the #1 hole blew out at the spot indicated by the picture. As you can see there are only faint lines on the timing tab (top one outlined in red) and something stamped further down (also outlined in red).
Based on other timing tabs that look similar it looks like the orange indicator is in the 14-16 degree range which seems way too high.
If I understand correctly it should be in the 8-10 range, correct?
If that is the case do I simply turn the engine until the indicator is in the 8-10 range and then put the distributor back in so the rotor is pointed at the #1 position? Or, as is likely is there more to it?

Thanks in advance for your help!

 

Ignore the mark. Note especially that the rotating part of the system is on the outside piece of the crank damper, suspended loosely there by the rubber.

Set it to where it runs the best and move on. YOU get to decide what "best" is.