VCCA Home Forums TECHNICAL - 1945 AND EARLIER 1929-1932 Engine miss and rear main oil leak

I am just getting a 32 Sedan running after sitting for 30 years. I have no experience with these older engines but am learning alot fast by reading some of the very helpful info on this sight. Tonight I was able to take the old girl down the driveway(about 1/4 mile) a couple of times. I have a miss at mid to high range, I don't know if it's carb or timing. It seams to idle and run great at low speed. I am not sure how to set the timing other than what the manual say's to leave spark knob all the way in and set points to open when mark is at 12" on flywheel. Is that correct or can I use a light? I have rebuilt the carb and don't think I can adjust anything other than idle mixture which I don't think will affect mid-high much.
Also I have an oil leak at the rear main. I did a search and found there is no rear main seal just a slinger I beleive. I alos rear about a drain back hole in the rear main cap as well as a check valve? Can anyone give me more help on these. I am not looking forward to pulling the pan again but I guess I won't havve much choice.

The timing on the flywheel is 12 degrees BTDC. You can use a timing light to check the timing.

The rear main bearing cap has a tapered oil with a ball bearing check valve. Sometimes the hole gets plugged with gunk or the ball bearing will get stuck in the "up" position closing the hole and not allowing the return oil to pass into the oil pan, thus the oil ends up on the ground. To check the hole and the ball bearing check valve you will have to remove the oil pan.