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It could be as simple as the points slipping or the rubbing block breaking. When the dwell changes it changes the timing. Either replacing or possibly even just resetting the points might fix everything.
Points are good. power valve ok. can't find any vacuum leaks. so it sounds like the worst. So jumping a tooth on chain can happen all of a sudden just sitting in the garage idleing and tuning the carb? will a one or two tooth jump bend pushrods and valves?
By the way thanks for all the response.
They can go without warning at anytime. I had one jump at highway speed in an old truck; shut down like a switch on that one. The slack in the chain starts to whip and, if its bad enough, catches a tooth and jumps.
If you have stock(ish) cam and pistons they will never hit. You will be fine with no internal issues.
The good news is that its not a bad repair on our motors.
even with a jumped timing chain the dwell should be ~30.
Because it´s not, the problem is in the distributor.
Something moved or bent inside. First get the dwell right, then timing.