Copied from the archives. I used this same method, except I didnt use the flywheel.
There is a hole in the flywheel housing at about the 4 o'clock position as viewed from the driver's seat. Sight through this hole and you can see timing marks on the flywheel. You might need a good flashlight, these marks can be hard to see if the flywheel is dirty. Line up the "DC#1" mark on the flywheel with the register mark on the housing. Check to make sure the #1 piston is on the compression stroke (both valves closed) as it will also line up 180 degrees out. The easiest way to do this is to pull the plug on #1 and put your thumb over the plug hole and feel for compression as the piston comes up, and then get the marks lined up on the flywheel to get it exactly on TDC.
On coupling side of the mag there is an oil cup just above the drive coupling. Open the cap and use a small finish nail to lift the pawl of the impulse coupling to disengage it.
Set the advance mechanism/points cover up as high as it will go, (fully retarded) and then remove it, being careful not to change the position of the points plate.
Rotate the magneto clockwise (as viewed from the coupling end) until the points rubbing block is on the highest point of the cam, and set the point gap to .013"
Set the magneto and drive coupling back on the engine bracket, and loosely replace the bolts in the magneto housing.
Remove the distributor block/cap and rotate the magneto clockwise at the coupling end until the rotor lines up with the number one plug wire tower (Top left as viewed from the inside of the distributor block) and the points just begin to open.
Being careful not to move anything, locate the two holes in the coupling that align. The holes in one part of the coupling are slightly off set from the holes in the other part, so only two will line up accurately. Insert the screws. If you have to force things, you're not on the right set of holes, and the setting will move.
Tighten everything down and replace all the covers and the spark control lever.
You should be timed well enough to start at this point.
To double check, fully retard the spark (lever all the way up) take the points cover off and crank until the points just start to open. If the timing is correct, the DC mark on the flywheel will line up with the register mark on the housing.
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