Thanks again guys - here's an update on today's developemetns.
John - Funnily enough, I *do* understand what you're saying. I've been playing with this so much I'm going to be a timing expert by the time this is all done (ha ha!)
Jack - I didn't think you were irritated -- it was LEROY who seemed to be frustrated with me for some reason.
Steve - you are correct. When I found 35* inital to be the "sweet" spot with no VAC, I then *reduced* the dizzy down to 17* and hooked the vac canister up to full manifold vac to achieve 35* intial WITH vac. The thing that scares me here is that I don't know what "ping" sounds like. Now, I've heard it described (rattling, marbles in a can, etc.), but I don't hear anything like that. Now, someone with experience my hear my engine and say AH, PING! but I'm worried since I don't have a frame of reference.
Doug - Since math is hard <chuckle>, I generally set timing so that the balancer mark is at 0 on the timing chain cover, and use the Dial to tell me what the readings are. So for intance, if I want 15* initial, I set the dial to '15' and adjust timing so that the mark lines up with 0. Does that make sence? However, I will check again later to make sure that you are correct and I'm not acutally adding timing by doing it wrong. Boy would I feel dumb!
Now for the update - This whole "set by idle" thing sounds better than it worked. I actually took the car for a spin this morning and it ran like CRAP. :x No power, it was sputtering and surging. An absolute mess. So, either I did someting really wrong or Tom at Stovebolt was wrong in his advice. I went back, set everything up normally (with 15* inital) and the car ran great. Actually, with the new 2bbl setup properly, it ran REALLY great.
So, one mystery is somewhat solved -- the setting timing by idle thing didn't work in practice.
That STILL doesn't explain why my dizzy is giving me a full 57*. Actually, I'm going to tripple-check all the readings with tach hooked up and find out when that RPM is actually coming in.