There should be a vacuum tree mounted on the firewall, with several ports. If one of them has a cap on it, you can pull the cap and use that port. If thet are all in use, then splice a "T" into any of those hoses, and plug the gauge hose into the third nipple (just remember to cap it when you are done). I don't remember all your mods, or mileage, so telling you what the vacuum gauge should read is iffy at best. If there are no internal mods (including rockers), 18" is standard. 15" is borderline. With a cam, these numbers will be lower. BUT, it doesn't really matter. What you are looking for is a change while idling for 15 minutes. Start the engine, and write down the number it idles at. Go away for 15 minutes, and check it again. Post your results, telling me BOTH numbers.
Your timing question is best answered this way:
Some engines have a single line on the balancer which denotes TDC, and then have a tag on the engine with degree marks noted on it. Others do it the opposite. For clarity, I will explain this presuming you have the first type of setup. If it's the opposite, do it accordingly.
You should have two items marked. Find the single grooved line on the balancer. apply a thin line of liquid paper on it. Now find the 10 degree mark on the tag. Apply a thin line of liquid paper to it. Remove the Spout connector, and start the engine. Point the timing light at the tag, and pull the trigger. The object is to get the lines to match up. This is accomplished by turning the distributor. If you are going to eventually change your timing, it would be worthwhile to buy a timing light that has an adjustable dial near the handle. What this does is change the timing light by the degrees chosen on the dial. With one of these, you always make the liquid paper degree mark at zero, and then just turn the dial until the lines match up. Then read the dial, and it tells you exactly how many degrees your set at. This also prevents you from having liquid paper marks all over your degree tag.
Does that help?
Take care
~Chris
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[This message has been edited by PKRWUD (edited 09-21-2001).]