[jruppert]

First off.. Those caps usually break or are lost on older fords so I wouldnt worry about breaking it. Ive had 3 Mustangs and they were already broken or lost when I bought em. Pull the spout and set the timing to 10-12 degrees. I am surprised your car didnt ping like hell with it advanced like that. Here is a link that shows the diagram on how to wire it. It shows 2 ways. Now I am not sure about the older Mustangs but my '94 I can wire it and count the check engine light blinking or I can use my scanner. Your check engine light might blink otherwise you need a analog voltmeter or a test light. http://www.therangerstation.com/files/4hup96.gif

Jump the wires and then turn the key forward to acc. you will hear the fan kick on and off and you will hear your fuel pump cycle.