That’s a good looking distributor.
What carburetor are you using? The original carburetor has what ford called spark control for the original Spark-o-Matic distributor. It provides a non-standard vacuum signal, so if you have the original carburetor, you won’t want to use the vacuum port on the carb for your distributor vacuum advance. Rather than that, you’ll want to block off that port on the carb and use the manifold vacuum. Then you’ll have to do a little experimentation to find the amount of initial advance that works best for your engine. These engines are happy with a lot of ignition timing. At the moment mine has 14 degrees at idle and I have had it up to about 24 degrees at idle with no pinging. You’ll need to find the amount of timing that works best for your engine.