On a related note, I set my timing using a test light a few weekends ago. I have a pertronix installed in my distributor, but I believe the process is very similar to if I still had points.
While rotating the distributor, my test light went from dim to bright (some folks say it goes from off to on, but that has never been my experience) and that was my indicator that I had properly set my timing.
What I didn't expect, was that I also received a shock when my test light got bright. Have any of you esxperienced that before. I know it was a shock, because I went through the process three times, just to be sure. In retrospect, that was probably a bad way to verify what was happening, as I could have hurt myself, or my ignition, but what is done is done.