Magneto “advance” refers to degrees as measured at the crank.
If the mag is timed properly the impulse will trip exactly at TDC. Check by slowly turning the crankshaft while watching fan pulley. (For safety pull the center wire out of the magneto while doing this!) The impulse should snap just as the TDC mark (the single notch on the fan pulley) aligns with the pointer.
If it does not, loosen and rotate the mag as required until it does. More detail on the mag timing process is in the owner’s manual.
There's no need to mess with the gears inside the mag. (If the mag gear timing somehow gets messed up it usually won't spark at all).
Once the mag is set to TDC, start the engine then use the timing light to check the running timing. It should be 35 deg BTC - which I THINK for the M is the first of the double marks on the pulley. I’m not certain however – it might pay to measure and mark the 35 deg BTC point on the pulley yourself.
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