No need to disconnect the plug wires, simply remove the wire from the points at the coil. Removing the spark plugs, however, will make it much easier to turn the engine over in small increments.
At this stage in the game, who the heck knows what distributer or cam you're running. So go back to basics:
Set the timing at low idle (600 to 800) to 15° BTDC. Rev the engine slowly up while observing the timing marks. Go at least to 5K rpm, briefly mind!
- What was the maximum advance recorded?
- What is the maximum advance minus the initial advance of 15°. This gives you the total advance of the distributor.
Basically, you want no more than 38° BTDC at high rpm if you tend to drive the car moderately. If you drive the car hard and spend a great deal of time flat out at high rpm -- say up a mountain pass, flat out -- then I would reduce the maximum advance to 34° BTDC.
Let your low idle advance fall where it may. Anywhere from 5° to 15° is ok. Anything more or less than that may give you trouble.
Best practice is to send your distributor to someone with a distributor machine and have them set up the advance curve to match your cam/carb combination. All of the above still follows though.