Re: timing change
48 was the year of two different styles/locations of distributors, car versus truck. I gather yours is the car/earlier style that sits low on the front of the block between the water pumps. There is a screw and an index marked plate under it on the right side as you look at the distributor. If you loosen the screw you can then push up, counter clockwise, on it to advance the timing or push it down to retard it. Doing that you're moving the points plate inside the distributor to change the timing. Quite simple.
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