If you have a dwell meter, set the dwell to 30 to 34 degrees. If you do not, use the thickness gauges and set to .016 to .018 as mentioned above. Remember to lube the breaker cam so the rubbing block does not wear out! As far as timing is concerned, TDC is probably spec. but 10 degrees may work very well. Remember the 340 was 10 degrees BTDC. If you can get away with this amount, cylinder pressure will be improved and the engine will run stronger. Also by running 91-93 octane fuel, timing may be "adjusted" up some and the engine may run even better. [when tuning, small timing adjustments,{max of 3 degrees} road test, listen for "spark knock" and adjust as necessary]