Welcome to the web site, tipsy! The first thing you need is a copy of the original repair manual. Many vendors, like the Filling Station, sell reprints. You'll find the answer to your timing question in that book. The picture in the book is a little misleading, but the verbal description is correct.
To clarify what AntiqueMachanic meant by the word 'qualify', there is a wonderful list of Technical Articles in the Members Area and 'School is in Session' is one of these articles. To gain access to the Members Area, you need to be a member of the VCCA.
Ray's book is over 250 pages!. He documented his rebuild of a 1928 engine, with step-by-step discussions and lots of pictures. Gaining access to this one item is worth the minor cost of joining the club.
There are MANY other great benefits to being in the club. Like, being able to use the Search Function and getting an award-winning monthly magazine. Also, we're a great bunch of folks that are romantically attached to our old Chevys.
Cheers, Dean